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LKQ to divest GSF Car Parts following Uni-Select acquisition

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GSF Car Parts

LKQ Corporation, the parent company of LKQ Euro Car Parts, is seeking to divest GSF Car Parts (GSF) following its acquisition of the factor’s Canadian owner, Uni-Select. With the transaction subject to the receipt of anti-trust clearance in the UK, LKQ Corporation made the offer as part of its application for the UK competition authority’s approval. In the interim, LKQ Corporation will not be involved in the day-to-day running of the GSF business with the existing management team remaining in place and the organisation ringfenced from LKQ. LKQ announced its plan to acquire Uni-Select for around US$2.1 billion on 27 February.

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Related news:

  1. The Parts Alliance acquires Lancashire parts distributor BBC Superfactors
  2. GSF Car Parts to reintroduce Bendix brakes to UK with exclusive distribution deal
  3. The Parts Alliance acquires motor factor Waterloo (Motor Trade) Ltd
  4. Uni-Select Inc. acquires The Parts Alliance Group
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Further global leadership and rebalanced product mix – Yokohama’s goals for Trelleborg Wheel Systems purchase

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YOHT

Now Yokohama has confirmed its acquisition of Trelleborg Wheel Systems (TWS), we can talk more definitively about the rationale behind the purchase. There are several drivers behind the acquisition, but they all boil down to Yokohama’s desire to increase global leadership and rebalances its product mix.

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Related news:

  1. Yokohama offers US$2 billion for Trelleborg Wheel Systems as global off-highway tyre segment consolidates
  2. Yokohama to buy ex-Pirelli commercial/industrial tyre business Prometeon
  3. Yokohama’s Prometeon bid: Delayed by Covid, but nearing completion
  4. ATG looking forward to economies of scale with Yokohama
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Yokohama offers US$2 billion for Trelleborg Wheel Systems as global off-highway tyre segment consolidates

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Trelleborg

Yokohama Tire has bid around $2 billion for Trelleborg Wheel Systems in a move that could further expand the Japanese company’s growing off-highway tyre business. Sources close to the bid told Tyres & Accessories that Yokohama is currently in a due diligence process that is likely to be completed during the next month or so. Yokohama previously bid for Prometeon, the ex-Pirelli industrial/off-highway tyre business at the end of 2019. Despite ongoing discussions over the following year or so, that deal wasn’t completed. Yokohama appointed the former global head of Prometeon, Gregorio Borgo, as its European president earlier this year. Trelleborg Wheel Systems executives declined to comment on the reports.

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Related news:

  1. Yokohama’s Prometeon bid: Delayed by Covid, but nearing completion
  2. Yokohama to buy ex-Pirelli commercial/industrial tyre business Prometeon
  3. Pirelli truck tyres separating and merging with Aeolus/ChemChina
  4. Trelleborg reorganisation brings greater prominence to tyres
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Hankook Tire examining distribution structures, looking at M&A growth

Hankook Tire concedes that its response to last year’s “extremely challenging” business environment and the rapidly-changing trends influencing the tyre industry was “not fully sufficient” to combat downward pressure upon its business. Hyun Shick Cho, vice chairman and chief executive officer of Hankook Technology Group, has addressed this issue in a letter to shareholders, discussing means of responding preemptively to these changing trends.

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Related news:

  1. Wholesale acquisition: Hankook Tire buys Reifen Müller
  2. Hankook introduces AI for ‘smarter’ tyre inspection
  3. Hankook Tire CEO Cho receives suspended prison sentence
  4. Hankook bringing world premières and smart tyre solutions to The Tire Cologne
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Doublestar acquires Hengyu Technology

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Qingdao Doublestar Tire, owner of Kumho Tire since July 2018, has once again grown through an acquisition. The Chinese tyre maker says it has completed the purchase of Shandong Hengyu Technology Co., Ltd. for RMB 899 million (£103.1 million). Doublestar disclosed in March that it had signed an agreement with Hengyu Technology’s administrator to acquire 100 per cent equity in the business.

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Related news:

  1. Doublestar the only bidder left to buy Kumho
  2. Doublestar back in pole-position for Kumho purchase
  3. Why Doublestar’s Kumho purchase is a good idea
  4. Acquisition ugliness: Kumho Tire execs threaten mass resignation
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ZF signs definitive agreement to acquire WABCO

ZF Friedrichshafen AG, a leading global technology group and supplier of mobility systems for passenger cars, commercial vehicles and industrial technology, has announced that it has entered into a definitive agreement to acquire WABCO for $136.50 per share. The planned acquisition has been approved by ZF’s management board and supervisory board and WABCO’s board of directors. Together, ZF and WABCO will form a leading global integrated mobility systems provider for commercial vehicles, creating added value for ZF’s commercial vehicle customers. The combined company will have sales of approximately €40 billion.

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Related news:

  1. Jumbo merger in automotive components sector?
  2. ZF acquires TRW Automotive, sells steering system business
  3. Mahle CEO Scheider goes to ZF Friedrichshafen, Stratmann named successor
  4. WabcoWürth presents W.Easy ADAS calibration tool
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Sainsbury’s, Asda and truck tyre tariffs

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At the end of April the UK’s second largest supermarket Sainsbury’s announced that it is merging with the Walmart-owned Asda supermarket. The goal? To push first-placed Tesco off the top-spot and to give the newly combined chain better access to different geographic areas and consumers. Strange as it may seem at first glance, this story can be read across to the tyre market in general and the truck tyre segment in particular (click here for complete coverage on developments associated with the recently initiated European anti-Chinese truck tyre import tariffs).

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Related news:

  1. Tariff time again, but will they make a difference?
  2. Truck tyre tariffs to end Chinese import tsunami
  3. NTDA: EC anti-subsidy decision ‘no great surprise’
  4. EU publishes definitive anti-subsidy and updated anti-dumping rates
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Accuride’s acquisition of Mefro Wheels gains conditional approval

Consolidation within Europe’s commercial vehicle steel wheel market is coming, but three will remain the magic number when it comes to suppliers. Some ten months after the proposed deal was first announced, the European Commission has granted its conditional blessing for Accuride Corporation to acquire steel wheel manufacturer Mefro Wheels GmbH.

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Related news:

  1. Accuride agrees to buy Mefro
  2. European Commission approves Bekaert acquisition of Pirelli steel cord business
  3. Accuride Corporation acquisition completed
  4. Kirkby Tyres offers wide commercial wheel range, custom wheel manufacturing
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It’s M&A season

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New year. New diary. New balance sheet. New company? In this respect, 2016 got off to a flying start. No sooner had the year begun than we received news of some high profile, three-digit-million pound mergers and acquisitions. The first and the largest was the acquisition of well-known garage data supplier Autodata (see page 32, Company New section for complete details). However, within 24 hours this was followed by the potentially UK tyre wholesale and retail-changing announcement that Sumitomo Rubber Industries had acquired Micheldever Tyre Services.

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Related news:

  1. Solera buys Autodata
  2. Sumitomo MTS acquisition ‘ensures continuity’ of management, brand strategy
  3. Autodata sold for £340 million
  4. GSF Car Parts merges with Parts Alliance
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The Parts Alliance acquires motor factor Waterloo (Motor Trade) Ltd

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HgCapital-owned Parts Alliance Group has acquired Waterloo (Motor Trade) Ltd. The company will continue to trade under its own name, serving customers in the East Riding of Yorkshire, with branches in Hull, Beverley and Bridlington. Waterloo was founded in 1928 by current managing director Jim Munday’s grandfather.

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Related news:

  1. The Parts Alliance Group acquires BMS Superfactors
  2. The Parts Alliance acquires Lancashire parts distributor BBC Superfactors
  3. Second ex-Unipart Automotive director appointed regional Parts Alliance MD
  4. The Parts Alliance named ‘Factor Chain of the Year’ in 2017 CAT Awards
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Nokian Tyres adds VP strategy to management team

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Timo Tervolin has been appointed as vice president, strategy and corporate development and a member of Nokian Tyres’ management team. According to the company, his responsibilities will include leading Nokian’s strategy process and strategic programmes, mergers and acquisitions, and monitoring markets and competition.

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Related news:

  1. Nokian Tyres’ president resigns
  2. Nokian Tyres appoints Hille Korhonen as president and CEO
  3. Nokian Tyres’ board confirms member roles
  4. European FinTyre appoints Massimiliano Messina as CFO
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Trelleborg acquires Mitas parent company, CGS Holding

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Trelleborg has signed an agreement to acquire the Czech Republic’s CGS Holding a.s. for approximately 10.9 billion Swedish Krona (£830 million) on a cash and debt-free basis. The privately-owned company is active in the agricultural and specialty tyre business segments, including the strong Mitas tyre brand, as well as engineered polymer solutions. Closing of the transaction is subject to approvals from relevant competition authorities and is expected to be completed in the first half of 2016.

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  • Full analysis of tyre business segments
  • Read Tyres & Accessories magazine online/in print

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Related news:

  1. Trelleborg finalises acquisition of Mitas manufacturer, CGS Holding
  2. The Mitas touch – a new plant, agri tyre ‘revolution’, and a changing brand focus
  3. Preparing for re-entry: Continental returns to agri tyres with Project LousAgro
  4. ‘Planning, communication’ help Trelleborg implement plans during pandemic
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Auto Windshields completes AA AutoWindshields acquisition

Eight weeks to the day, Auto Windscreens (part of the Markerstudy Group of Companies) has today (1st October) confirmed that the deal to purchase AA AutoWindshields has completed. With no time to lose to ensure the full integration of 200 staff and technicians, this is cited as a phenomenally successful exercise in communication and collaboration by the Sunday Times Best Companies Top 100 listed organisation.

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Related news:

  1. Auto Windscreens buys AA AutoWindshields
  2. Andrew Page, The Parts Alliance buy 33 Unipart Automotive branches
  3. Unipart Automotive branches’ fate – full list
  4. Parts Alliance acquires 3 more Unipart Automotive sites, appoints ex-Car Care head
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Millbrook’s Test World acquisition followed ‘strategic collaboration’

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The formal agreement to acquire Test World was preceded by the establishment of a “strategic collaboration” between Millbrook and the Finnish facility in June 2015. The collaboration was announced at Automotive Testing Expo Europe 2015, in Stuttgart which ran from 16 – 18 June. There the growing partnership between the two companies could be seen in their adjoining exhibition stands designed to demonstrate the range of facilities and services the two businesses can offer.

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Related news:

  1. Millbrook buys Test World
  2. Millbrook expanding Test World facilities in Finland
  3. Test World opening indoor wet and dry asphalt test tracks
  4. Hankook building winter tyre proving ground in Finland
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GSF Car Parts merges with Parts Alliance

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75 GSF Car Parts (GSF) branches have merged with The Parts Alliance, taking the network to well over 300. 160 of these are under common ownership. Together they give the Solihull-based business group increased coverage in the UK and Ireland.

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Related news:

  1. The Parts Alliance continues to grow UK branch network
  2. Uni-Select Inc. acquires The Parts Alliance Group
  3. Innovation award for the Parts Alliance
  4. Parts Alliance buys SAS Autoparts
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