Motus Holdings (UK) Limited has acquired automotive components supplier, Motor Parts Direct (Holdings) Limited, in a £182m deal.
Motor Parts Direct was established in 1999 in Kettering and now has a network of 175 branches and a fleet of over 900 delivery vehicles. The business has more than 14,000 active customers and employs 1,700 people.
Motus Holdings (UK) Limited is the UK-based subsidiary of South African listed Motus Holdings Limited. The company was listed on the Johannesburg Stock Exchange in November 2018 and is now South Africa’s leading automotive group, employing over 17,000 people globally.
This deal marks a significant milestone for the Motus group internationally, as it continues to expand its automotive aftermarket capability in the UK and reduce the Group’s dependency on vehicle sales.
Irwin Mitchell’s Corporate team advised Motus with partner Emma Callow leading the team. She was supported by senior associate Matt Smith; Greg Mazgajczyk; Tom Wisniewski, Alex Bloomer and Paige Richardson. Gurpreet Hayer led the Irwin Mitchell Real Estate team, supported by Stuart McDonald and Mary Gharmount.
Irwin Mitchell previously advised Motus Aftermarket Parts on the acquisition of FAI Automotive in October last year.
Commenting on the acquisition, Motus CEO, Osman Arbee, said: “Motus remains focused on deepening its competitiveness and relevance across the full automotive value chain. The acquired business is cash generative and asset light. It will provide economies of scale, procurement benefits and synergies. Key management have been secured and are committed to continue managing the business.”
Mike Tillson (partner) and Ryan Shields (director) of Grant Thornton Corporate Finance and Jonathan Hambleton (partner) and James Cowell (director) at Freeths acted for the shareholders of Motor Parts Direct.
