Andrew Page swoops for Camberley

CAR parts distributor Andrew Page has bought Camberley Auto Factors in a deal which means the firm has almost doubled in size in two years.

The acquisition for an undisclosed sum was funded through fresh investment by Phoenix Equity Partners, the majority shareholder in Andrew Page.

The firm also today announced former Nationwide Autocentres chief executive Duncan Wilkes is to be its new chairman.

Andrew Page chief executive Mark Roberts said: ““The senior management team at AP and our loyal staff look forward to working with the Camberley team to create one of the UK’s largest and most successful independent motor factors.

“We are also excited at drawing on the expertise of our new chairman, Duncan Wilkes, as well as continuing to work with Phoenix.”

Andrew Page was advised by Stuart Warriner of PricewaterhouseCoopers and Yunus Seedat of Addleshaw Goddard. Commercial and financial due diligence on Camberley was performed by Phil Abram of KPMG.

Phoenix Equity Partners invested in Andrew Page in March 2010 when it operated from 45 sites and employed 1,100 staff. The acquisiton of Camberley will take the business to 90 sites and 2,000 staff.

John Rastrick, a partner at Phoenix, said: “We see the potential for substantial future growth with Andrew Page, both organically and by acquisition and are committed to supporting the company to achieve this.

“We also are very pleased with the appointment of Duncan who joins the board at an exciting time in its development.”