The controlling share of component giant Unipart Automotive been sold to private equity group H2 Equity Partners in a deal for an undisclosed sum. Unipart Group, headed by John Neill, will retain 49.9%
The deal will see Patrick Kalverboer, managing partner at H2 take over as executive chairman of the new company.
Commenting on how the deal will affect garage owners Kalverboer said: “We plan to expand Unipart Automotive’s range up to 160,000 parts – and this expansion starts from tomorrow.” He added that the range expansion would be complemented with up to 20 new regional distribution hubs across Europe.
H2 already owns a number of parts companies in Europe through a controlling interest in holdings company Sator B.V. The group has already created a new buying group known as AP United that will be responsible for purchasing across the whole company.
According to John Neill, Unipart Group was strongly attracted to H2 and Sator because of its commitment to the sector. “We are delighted that Patrick will be executive chairman of the company as he brings the right combination of experience and financial resources and acumen to grow the business” he said.