Auto business The Parts Alliance acquired by HgCapital
THE Parts Alliance group has strengthened its position in the automotive aftermarket after investor HgCapital (HgC) acquired the business.
The firm services its members from offices in Solihull and a central warehouse in Smethwick.
Following the acquisition – for an undisclosed sum – Peter Sephton becomes chief executive of the business.
He also retains his role as group CEO of the Parts Alliance members which trade under local brand names and are organised into The Western Alliance and The Eastern Alliance.
The other member companies (BBC Superfactors, BMS Superfactors, Car Parts & Accessories, Dingbro, Mill Autoquip, Motex and Qualvecom) become associate members.
They continue to trade as independent businesses and were not part of the acquisition, though remain fully involved in The Parts Alliance activities with representation on the board.
At the same time Central Auto Supplies will leave the group and has been granted a six-month notice period.
Sephton said: “From the outset we and our investors, HgCapital, recognised the value and potential of The Parts Alliance as a leading industry organisation. This further investment provides scope for enhancing performance further through a more dynamic and unified operating model.
“This will see us able to deliver even greater value to our members, suppliers and customers, both national accounts and, through our members, independent garages.”
