The Parts Alliance Group has been acquired from its private equity owner HgCapital by Uni-Select Inc., a Canadian publicly listed, North American Automotive aftermarket distributor.
New owners Uni-Select operate as a market-leader in the USA and Canada, distributing automotive aftermarket parts, equipment and refinish products through a network of 14 distribution centres, 270 corporate stores and over 1,100 independent wholesalers with 3,000 employees generating sales of $1.2 billion USD per annum.
The Parts Alliance, through a series of ten acquisitions since 2012 has grown to become a market-leader by investing in people and technology and putting their customers first
Peter Sephton, chief executive of The Parts Alliance, said: “I and our management team would like to thank HgCapital for all their support as our 2,900 colleagues look forward to continuing that journey with Uni-Select, helping build a great international autoparts business together with the Uni-Select leadership team.”
The Parts Alliance emphasise that for customers it’s very much ‘business as usual’ and look forward to working under trade owners with a deep understanding of the automotive aftermarket.
The existing management team will continue to operate the business and Peter Sephton will join Uni-Select’s executive team while continuing his leadership role in the UK as president and CEO of the European business segment.
Uni-Select’s origins are similar to those of The Parts Alliance; Uni-Select was founded in 1968 by 12 Québec businessmen who joined forces to form a purchasing group for aftermarket parts.
The business now trade as a listed company on the Toronto Stock Exchange (TSX: UNS).
Henry Buckley, president and CEO of Uni-Select, said: “We are excited to establish a third growth pillar in the large UK parts aftermarket that is expected to be immediately accretive in a market with great upside potential from future consolidation opportunities.
“Parts Alliance is a great organization, with a market leadership position and national scale, a proven growth platform and an experienced management team that has demonstrated its ability to drive profitable growth both organically and through acquisitions.”
Martin Block, partner at HgCapital, said: “We are delighted with the sale of this very special business to Uni-Select.
“They will be a fantastic partner for the next phase of Parts Alliance’s continued growth and development.
“As a buy and build in a fragmented and dynamic sector, our management team were able to create a business of scale and real capability through their drive, professionalism and determination.
“The Parts Alliance brings together a high-quality group of distinct brands with a common culture and local identity. We wish both the team and the new owners every success for the future.”
For further information about The Parts Alliance, click ‘more details’ below.