Unipart sale imminent

Euro Car Parts rescue deal on the cards?

Published:  08 July, 2014

Vehicle parts supplier Unipart Automotive has been consulting administrators KPMG this week following a period of difficult trading. It has emerged today that the independent car parts supplier could be close to a rescue deal from the likes of Euro Car Parts and Jon Moulton's Better Capital.

Mark Dixon, chief executive of Unipart, said: "I can confirm that Unipart Automotive is currently in detailed discussions with three parties in respect of the sale of the business.

"We are very hopeful of concluding this transaction within the next 36 hours.

It is rumoured that a trade buyer is more likely to succeed because it would benefit from synergies and be able to consolidate the business. However,  Jon Moulton, founder of Alchemy Partners, has a history in the car sector, with an unsuccessful attempt to take over MG Rover in 2000.

The company filed a notice of intention to appoint KPMG to act as administrator in a move which put 1,600 jobs at risk. The company, once part of British Leyland, was sold to Dutch private equity firm H2 Equity partners in 2011.

In May this year, it was reported that the firm had completed a multi-million pound refinancing, which was designed to return the company to profitability.

Related Articles

  • Editor's Comment 

    This is the final newsletter of 2014 and this certainly has been a year of change. Companies have come and gone, technologies and emissions have been in the spotlight and the industry has had to adapt. Yet rather than look back, I'd like to look forward to what next year may bring.

  • Homework for the holidays 

    The annual Top Technician competition, which promotes and rewards the best repairers and workshops in the UK, invites fault-finders with at least three years’ practical experience to try out the initial online quiz over the Christmas break.

  • UAN and Unipart announce agreement 

    The United Aftermarket Network (UAN) has entered into a long-term arrangement with Unipart Autoparts.

  • IAAF award for NGK 

    NGK Spark Plugs has won the IAAF Car Supplier of Excellence award for the fifth time.

  • Forum access for Top Techs 

    UK AutoTalk has become the official forum for Top Technician. It will feature competition updates and enable entrants to take advantage of the wealth of information within the technician network.


Search

Sign Up

For the latest news and updates from Aftermarket Magazine.


Poll

Where should the next Automechanika show be held?



Facebook


©DFA Media 1999-2016

Mentés