Lookers preparing to sell its car parts division

Fri, 12 Aug 2016 | DIVISION SALE

Lookers Motor Group, which sells new and used cars across the UK, is set to sell off its car parts division.

A conditional £120 million sale has been agreed to European automotive and commercial vehicle parts distributor, Alliance Automotive, and is due to complete in October. The disposal will enable Lookers to seek out new acquisition opportunities and is presently in an advanced stage to purchase two branded car dealership businesses, which it hopes to announce soon.

A class one transaction, the Lookers car parts sale is dependent on EU merger control clearance and shareholder approval going through successfully.

The parts division, which includes brands such as BTN Turbo, FPS and Apec Braking, is one of the highest margin aspects of the Lookers group; in the year ending December it contributed £219 million of Lookers' £3.65 billion total sales, and £12.6 of its £85.9 million underlying profits.

Lookers' chief executive Andy Bruce commented on the sale: "I am pleased to announce this conditional agreement which the board believes is in the best interest of shareholders.

"The offer from Alliance Automotive is an attractive one and will enable us to focus on what we do best; buying and selling cars, and adding value through acquisitions.”

Find your perfect business to purchase


Share this article



Latest Businesses for Sale

Recruitment Agency (Fast Sale)
North West, UK

Indicative offers are required by 12:00hours on Monday 20 January 2020 with a view to completion shortly thereafter. The proposed Joint Administrators are seeking parties interested in the business and assets of a Company that trades as a recruitment...

Asking Price: Offers Invited
Turnover: £2,400,000

LEASEHOLD


Commercial Contractor (Fast Sale)
Midlands, UK Wide

Offers and proof of funding sought by 17:00hours on Friday 24 January 2020. The Joint Administrators are seeking parties interested in the business and assets of a commercial contractor business based in the Midlands.

Asking Price: Offers Invited
Turnover: £3,400,000

Hospitality Industry Recruitment Specialist
UK Wide

Provides highly skilled and professional hospitality staff across a variety of sectors. Recognised as both a preferred and top tier supplier for several of its prestigious clients. Supplying both temporary and permanent Nationwide staffing solutions....

Asking Price: Offers Invited
Turnover: £3,500,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
17
 
Jan
 

Sample book and shade card manufacturer acquired from administration | BUSINESS SALE

The business and assets of Yorkshire-based display products ...

 
16
 
Jan
 

Northgate and Redde shareholders approve merger | MERGER

The proposed merger of listed companies Northgate and Redde ...

 
15
 
Jan
 

SSE sells retail business to OVO Energy | DIVISION SALE

Power utility SSE has announced it has completed the sale of...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources