The Parts Alliance Group, one of the leading players in the UK aftermarket, has been acquired from its private equity owner HgCapital by Uni-Select Inc., a Canadian publicly listed, North American Automotive aftermarket distributor.

New owners Uni-Select operate as a market-leader in the USA and Canada, distributing automotive aftermarket parts, equipment and refinish products through a network of 14 distribution centres, 270 corporate stores and over 1,100 independent wholesalers with 3,000 employees generating sales of $1.2 billion USD per annum.

The Parts Alliance, as grown significantly in its domestic market since 2012 through a series of 10 acquisitions, while also expanding into Europe.

The Parts Alliance is emphasising that it will be ‘business as usual’ for customers and looks forward to working under trade owners with a deep understanding of the automotive aftermarket. The existing management team will continue to operate the business and Peter Sephton, Chief Executive of The Parts Alliance, will join Uni-Select’s executive team while continuing his leadership role in the UK as President and CEO of the European business segment.

Uni-Select’s origins are similar to those of The Parts Alliance. It was was founded in 1968 by 12 Québec businessmen who joined forces to form a purchasing group for aftermarket parts.  The business now trade as a listed company on the Toronto Stock Exchange.

Henry Buckley, President and CEO of Uni-Select commented, “We are excited to establish a third growth pillar in the large UK parts aftermarket that is expected to be immediately accretive in a market with great upside potential from future consolidation opportunities. Parts Alliance is a great organisation, with a market leadership position and national scale, a proven growth platform and an experienced management team that has demonstrated its ability to drive profitable growth both organically and through acquisitions. Our two companies are a perfect fit in terms of business profile, customer focus, entrepreneurial culture and commitment to people development.”