Investment firm snaps up three Yorkshire depots
Investment firm Hilco Capital has bought three Yorkshire branches of Andrew Page after the Competition and Markets Authority ordered that Euro Car Parts could not takeover all nationwide depots.
Euro Car Parts (ECP) acquired certain assets of Andrew Page in October 2016, after the company went into administration. Both companies own a network of depots across the UK from which they sell car parts to independent garages and workshops and to larger national or multi-regional customers, including repair centre chains, vehicle fleets and roadside assistance companies.
A group of independent panel members at the CMA investigated the merger and found that it could lead to an increase in prices of independent aftermarket car parts, and/or a reduction in the quality of service in nine local areas.
The three depots in the Yorkshire region that have been sold separately are in Scunthorpe, Wakefield and York.
On 12 January 2018, ECP gave the CMA final undertakings to sell the Andrew Page depots in these nine local areas to a purchaser approved by the CMA.
The purchase of these depots, along with an additional two depots nationwide, by Hilco Capital was approved by the CMA and completed on 31 August. This brings the CMA’s merger investigation to a close.
The CMA did not consider that larger national or multi-regional customers would be adversely affected by the merger.
Last year, when the announcement was made, Professor Alasdair Smith, Inquiry Chair, said: “Following an in-depth investigation, we have found that this in 9 local areas. That’s why we are requiring a depot in each area to be sold to a buyer approved by the CMA.
“Outside of these areas, we did not find that the merger will further reduce competition compared to what would have happened if Euro Car Parts had not purchased Andrew Page.”
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