UK-based automotive parts and accessories distributor, Motor Parts Direct has been acquired by South African automotive group Motus Holdings for a reported £182m.
In a statement, the board of Motus Holdings said: “The acquisition is aligned to Motus’ international growth strategy for the after-market parts business and will reduce the group’s dependency on vehicle sales.
“The acquisition will provide economies of scale, group procurement benefits and synergies. The business is cash generative and asset light. The existing management team, excluding any members of the family, are committed to remain and grow the business. Key management have been secured and are committed to continue managing the business into the future.”
Motor Parts Direct delivers parts to more than 14,000 customers in the passenger and light commercial sector through its network of 175 branches.
