Uni-Select Inc has completed the acquisition of 100 per cent of the shares of PA Topco Limited doing business as The Parts Alliance (“Parts Alliance”), the second largest nationwide independent distributor of automotive aftermarket parts in the United Kingdom and Ireland.
As previously announced, the transaction in the amount of £205.0 million was fully funded with debt from available credit facilities.
“We could not be more pleased to be adding The Parts Alliance to the Uni-Select family. This is an exciting new growth pillar for Uni-Select in the large and fragmented UK marketplace. The Parts Alliance is the UK’s second largest automotive aftermarket parts distributor with 161 locations and growing plus affiliated members, all serving local and national customers across the UK,” said Henry Buckley, President and Chief Executive Officer of Uni-Select. “We welcome all our new team members, customers and suppliers. The cultural fit is exceptional and the growth prospects are significant,’’ added Mr. Buckley.
“The Parts Alliance is very thrilled to now be part of Uni-Select. All of my colleagues in our organization, our suppliers, members and all other stakeholders see the opportunity for long term financial growth and stability, as well as personal growth as we join a team of like-minded individuals,” said Peter Sephton, President and Chief Executive Officer of The Parts Alliance.
The Corporation is also delighted to welcome Mr. Peter Sephton who is today joining Uni Select’s Executive Team as President and Chief Executive Officer of the European Automotive Group.
The transaction provides Uni-Select with an attractive point of entry into a new geographic market currently in consolidation with high growth and accretion potential and a third growth pillar to complement its segments, Canadian Automotive Group and FinishMaster US. With the addition of The Parts Alliance, Uni-Select now has a strong team of over 6,000 dedicated team members, spread across a network of 16 distribution centres and over 430 corporate stores located in North America, United Kingdom and Ireland.