Motus Announces The Acquisition Of Motor Parts Direct (UK)
Motus Announces The Acquisition Of Motor Parts Direct (UK). Motus’ wholly-owned UK-based subsidiary, Motus Holdings (UK), has entered into a sale and purchase agreement dated 30 September 2022 to acquire 100% of the issued share capital of Motor Parts Direct (Holdings) Limited, for a purchase consideration of GBP 182 million(ZAR 3,64 billion).
The Company, together with its wholly owned subsidiary, Motor Parts Direct Limited, is a family-owned business incorporated in England and Wales. The MPD Group, started in 1999, is a Business- to-Business parts distribution business based in the UK, which focuses on supplying motor vehicle parts, primarily to the passenger and light commercial vehicle sector, to workshops in and around the UK. The MPD Group has 175 branchesin the UK and Wales. 16 of the branches are also used as Regional Distribution Centres.The MPD Group has a wide customer base of more than 14 000 active customers, noneof which make up more than 0,5% of total sales. The MPD Group employs 1 700employees.
The Acquisition is aligned to Motus’ international growth strategy for the Aftermarket 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.
Motus is South Africa’s leading automotive group, employing over 17 000 people globally. The company is a diversified (non-manufacturing) business in the automotive sector with unrivalled scale and scope in South Africa, a selected international presence primarily in the United Kingdom and Australia, as well as a limited presence in South East Asia and Southern and East Africa.
