Uni-Select invests in parts
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 per annum.
The Parts Alliance, through a series of 10 acquisitions since 2012 has grown to become a market- leader by investing in people and technology and putting their customers first
‘This has been a fantastic journey, building a market leader in just over four years through 10 acquisitions and consistently strong organic growth,’ said Peter Sephton. ‘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 existing management team will continue to operate the business and Peter Sephton, chief executive of The Parts Alliance, 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 was founded in 1968 by 12 Québec businessmen who joined forces to form a purchasing group for aftermarket parts. The business now trades as a listed company on the Toronto Stock Exchange.
‘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,’ said Henry Buckley, president and CEO of Uni-Select.
Martin Block, partner, 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.’