Lookers Parts Division Announces New Investor

Today Lookers has exchanged contracts to sell the Parts Division (FPS, Apec and BTN) to Alliance Automotive Group (AAG).

For many years, the Parts Division (FPS, Apec and BTN) has been an independent division of Lookers PLC, the motor retail group, and has been well supported by them in serving the automotive aftermarket in the UK.

Lookers has today reached an agreement whereby the Parts Division ownership will transfer to Alliance Automotive Group, a large European aftermarket business. AAG, which has a substantial business in France and Germany, operates in the UK through their GA/UAN trading groups as well as their subsidiary motor factors.

The Parts Division will operate as an independent division of AAG, going to market as it does now under the existing management teams, and will report to the Chairman and co-founder, Jean-Jacques Lafont.

The agreement reached today is an exchange of contracts, and final completion, which is subject to shareholder approval and regulatory clearance, is expected at the end of October.

Neil Davis, Managing Director of the Parts Division, commented “The Parts Division has been extremely well looked after by Lookers PLC and in turn is very successful. With a consolidating European market, this transaction allows us to secure our market position, and share the opportunities this will bring, to the benefit of all our customers, our suppliers, and our colleagues”.

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INFORMATION

FPS is one of the UK’s leading providers of service-led supply chain solutions. Founded in 1934, and employing over 1,000 people, it operates from 22 sites in the UK. Acting as a distribution partner for a number of major brands, its core business is providing automotive parts, car accessories and consumables to the reseller network. Through recent expansion FPS now successfully provides wholesale distribution services in the Maintenance & Accessories and Travel & Leisure sectors, serving a number of blue chip companies. Dedicated to service excellence and innovation, the company offers a wide range of services meeting the varying needs of manufacturers, suppliers, resellers and business consumers across the supply chain. For further details go to http://www.fpsdistribution.com/pr-corner/ or contact comms@fpsdistribution.co.uk