Auto parts supplier sold for £182million

Kettering automotive components supplier Motor Parts Direct has been sold to Motus Holdings (UK) in a deal worth £182m.

Motor Parts Direct was established in 1999 in Kettering and today has a network of 175 branches and a fleet of over 900 delivery vehicles. The company has more than 14,000 active customers and employs 1,700 people.

Motus Holdings (UK) is the British subsidiary of Motus Holdings, listed on the South African stock exchange. The company was listed on the Johannesburg Stock Exchange in November 2018 and is today South Africa’s largest automotive group, employing over 17,000 people worldwide.

Motus CEO Osman Arbee said, “Motus remains focused on deepening its competitiveness and relevance across the entire automotive value chain. The acquired business is cash-generating and low in assets. It will provide economies of scale, procurement advantages and synergies. Key management have been secured and committed to continue running the business.

Irwin Mitchell’s corporate team advised Motus with partner Emma Callow leading the team. She was backed by senior partner Matt Smith; Greg Mazgajczyk; Tom Wisniewski, Alex Bloomer and Paige Richardson. Gurpreet Hayer led Irwin Mitchell’s real estate team, supported by Stuart McDonald and Mary Gharmount.

Irwin Mitchell previously advised Motus Aftermarket Parts on its acquisition of FAI Automotive in October last year.

Callow said: “Irwin Mitchell’s team are delighted to have been able to support Motus on this deal as it continues to grow its footprint in this sector in the UK. It took real teamwork and collaboration from all sides to bring about this historic transaction for Motus and we look forward to working with the Motus team in the future.

Mike Tillson (partner) and Ryan Shields (director) of Grant Thornton corporate finance and Jonathan Hambleton (partner) and James Cowell (director) of Freeths represented the shareholders of Motor Parts Direct.

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