On 3 August, LKQ Corporation (LKQ) and Uni-Select Inc confirmed that the previously-announced acquisition of Uni-Select by 9485‑4692 Québec Inc, which is a wholly-owned subsidiary of LKQ, officially completed on 1 August 2023. This follows a complex and ongoing monopoly-related investigation by UK authorities.
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.
The Parts Alliance has completed its acquisition of Blackburn Brakes Holding Limited, owner of BBC Superfactors Ltd (BBC), a leading distributor of vehicle parts in the Lancashire market. BBC, an affiliated member of The Parts Alliance, has a network of seven locations across the county. Employing more than 150, it makes more than 1,000 deliveries per day to commercial customers with approximately 97 per cent of orders delivered within one hour. It has been in business for more than 30 years.
Uni-Select Inc. has completed the acquisition of 100 per cent of the shares of PA Topco Limited (The Parts Alliance), the second largest national independent distributor of automotive aftermarket parts in the UK. As previously announced, the £205 million pricetag was fully funded with debt from available credit facilities.
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 USD per annum.
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C Joyful; Unsplash
GSF Car Parts