A YORKSHIRE-based distributor of automotive parts is poised to become one of the biggest firms in its sector after securing a major acquisition.
Andrew Page (AP) yesterday revealed that it had bought Camberley Auto Factors for an undisclosed sum. Phoenix Equity Partners, the private equity firm which is the majority shareholder in Andrew Page, has invested extra capital to fund the acquisition and to accelerate AP’s growth.
Phoenix initially invested in AP, which is based in Leeds, in March 2010 in a transaction which valued the business at around £100m.
In March 2010, AP operated from 45 sites and employed around 1,100 staff.
Following the acquisition, the combined business will operate from 90 sites and have around 2,000 staff.
Mark Roberts, the chief executive of AP, said he looked forward to working with Camberley to create one of the UK’s largest independent motor part distributors.