Tue, 21 Feb 2023 | BUSINESS SALE
Doncaster-based vehicle parts supplier AML Juratek Ltd has been acquired by international automotive parts group Fras-Le in a deal worth a reported £18.22 million. The reported fee represents a multiple of 10.8x Juratek’s 2021 operating profit of £1.68 million, generated on UK turnover of £19.4 million. Juratek also has operations beyond the UK, generating turnover of £24.5 million in the UK and internationally.
Juratek was founded in 1995 and has grown to become a leading firm in the automotive vehicle parts distribution aftermarket, primarily supplying components for braking and suspension systems. The company underwent an MBO lead by Managing Director Matt Robinson in October 2019 and it has since grown with the acquisition of parts supplier Bettaparts and the opening of a new depot in Northern Ireland.
Fras-Le is a major operator in the global automotive parts market, having established itself as one of the world’s leading manufacturers of friction material, both in Original Equipment and aftermarket. Its products are used in cars, motorcycles, aviation, commercial vehicles and railway.
The company operates across the United States, Brazil, Argentina, China, India and Uruguay and serves customers in over 120 countries through its network of distribution centres, industrial plants, commercial offices and technology and development centres.
The acquisition of Juratek, through which Fras-Le will acquire 100 per cent of its share capital, sees the company move into the UK market, while also bolstering its European business. According to Juratek, the deal will enhance the strategies of both businesses and provide opportunities to improve efficiencies across supply chains while creating further sourcing opportunities.
Juratek Managing Director Matt Robinson said: “I’m pleased to agree to the acquisition of AML Juratek by Fras-le. We have experienced tremendous growth in the past eight years, and we have exciting plans for the future.”
“This deal gives us the synergies and strength to expand on these plans and to also aggressively pursue new opportunities. I am looking forward to guiding the company in the next exciting phase of its history.”
Fras-Le Managing Director Anderson Pontalti added: “This movement is part of our strategy of expanding the business in the aftermarket sector, inserting the company in mature markets such as the European one, through product diversification and brand expansion in the portfolio.”
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