South East automotive group snapped up
Car Parts & Accessories (CPA), A £12m-turnover automotive group which operates 12 branches serving Hampshire, Sussex and Surrey, has been acquired.
The Parts Alliance, an automotive buying and distribution group backed by HgCapital, has bought associate member CPA for an undisclosed sum.
This is The Parts Alliance's eighth acquisition.
CPA, established in 1996, employs 120 people and has a delivery fleet of 60 vehicles.
The company becomes part of the Eastern Alliance of HgCapital-owned businesses within The Parts Alliance, the others being Allparts Automotive and SC Motor Factors.
The acquisition of CPA brings the number of branches in the Eastern Alliance to 33. The Western Alliance comprises GMF and CES UK.
James Geldart, newly appointed managing director of the Eastern Alliance, said: "I am delighted to have CPA as part of our business portfolio and I welcome all their employees to our family."
CPA managing director Keith Anderson said: "We are looking forward to integrating further with The Parts Alliance and becoming an even greater business as the group expands into a market leader."
Peter Sephton, chief executive of The Parts Alliance, added: "CPA is a great business with an exceptional commitment to customer service.
"We have been working closely with Keith Anderson and his team to bring them into our family of businesses. At The Parts Alliance we invest in our people and it is clear from the dedication and camaraderie of the team at CPA that they will fit straight in.
"Joint owner Nick Best has chosen this moment to retire and we wish him well and thank him for his great contribution."