Unipart Automotive has another week to negotiate rescue deal
At the end of last week Unipart Automotive renewed its intention to appoint administrators, which several sources have named as being KPMG. This is significant because, as was the case when news of the rescue talks broke on 8 July, such an announcement not only raises the possibility of the company entering administration but it can also provide a moratorium which acts as protection for a limited time.
Continue ReadingTarox launches Ford Fiesta St 180 front brake conversion kit
Italian brake firm Tarox has released details of its new front brake conversion for the highly acclaimed 2013 Ford Fiesta ST. The first Fiesta ever to feature rear disc brakes, and with a factory-approved upgrade that raises its power output from 180bhp to 217bhp this car would appreciate some front disc brakes too.
Continue ReadingNew bidders enter into Unipart Automotive rescue talks
While there hasnt yet been a clear outcome of the Unipart Automotive rescue talks, new bidders have entered into takeover discussions. Sources close to the talks have confirmed to Tyres & Accessories that buyout firm R Capital, which is known for an earlier rescue of the Little Chef chain in 2007 (the café business was sold to Kuwaiti investors last year) has now entered the Unipart Automotive rescue talks.
Continue ReadingWilliam Blair in favour of a Euro Car Parts rescue of Unipart Automotive
Investment bank William Blair said it views a potential rescue deal between Euro Car Parts and Unipart Automotive, if it were to happen, as “a good fit”. However, these words were written in an investor’s note dated 10 July and so far there hasn’t been any more information on how the talks with Euro Car Parts, Better Capital and at least one other party are progressing as yet.
Continue ReadingGoodyear signs 3-year contract to provide port handling tyres at London Gateway
Goodyear off-the-road tyres have been fitted to 28 Kalmar ESH-250 Shuttle Carrier vehicles at London Gateway. The fitment took place under a new three-year contract between Goodyear and DP World London Gateway to provide Goodyear OTR EV-3+, EV-4A and EV-4C industrial radial tyres.
Continue ReadingChemix Autocentres reports 70% increase in air conditioning related calls
With 95 per cent of new cars being sold with air conditioning as standard, Chemix Autocentres is reporting that the company has seen an almost 70 per cent increase in calls relating to air conditioning related problems.
Continue ReadingAndrew Page rejoins Parts Alliance
On Tuesday 8 July Andrew Page Group (one of the top three independent UK aftermarket suppliers), announced that it is rejoining The Parts Alliance, the major UK and Ireland buying and distribution group. The company’s decision to rejoin came after an absence of six years. It also came the same day that Unipart Automotive confirmed that it had put the administrators on standby in the event that it would not be able to negotiate a rescue deal with the at least three parties it has been talking to.
Continue ReadingRegister now to support Tyre Safety Month
Companies planning on supporting this October’s Tyre Safety Month campaign can now register to receive their free campaign materials. The month-long, TyreSafe-organised campaign aims to raise awareness about the importance of driving on tyres with adequate tread depth, and after the wettest winter on record will include essential advice about minimising the risk of aquaplaning.
Continue ReadingBritish Gas adopts Michelin tyre policy under ATS-E service agreement
ATS Euromaster has won a significant new contract with British Gas to fit and service tyres across the energy provider’s fleet of 13,000 vans. The Michelin-owned service provider says its nationwide network coverage, detailed fleet reporting and expertise in managing B2B accounts were crucial factors in securing this new account. As part of the agreement, ATS Euromaster will roll out a full Michelin tyre policy across the fleet; winter tyres, specifically the Agilis Alpin, will be the fitment of choice.
Continue ReadingTyreSafe now taking 2014 award submissions
Entries for the second annual TyreSafe awards are now open, and interested parties have until 5 November to nominate organisations that help reduce tyre related road casualties for a 2014 honour.
Continue ReadingAre Unipart Automotive rescue bids in?
Sources are reporting that the Unipart Automotive rescue bids have been received and we are likely to hear the outcome in the next 24 hours, but these claims could not be officially verified. Earlier in the week separate sources close to the negotiations told Tyres & Accessories they were expecting talks to conclude towards the end of the week, which would seem to fit into the same timeframe. With managers saying they were hopeful talks could be wrapped up in 36 hours at the beginning of the process on 8 July, the fact that almost 10 days have now passed suggests things are becoming increasingly urgent. It is also putting pressure on its loyal workforce. However, the official line from shareholders Unipart Group and H2 Equity as well as one of the three bidders Euro Car Parts has been a unified “no comment”.
Continue Reading‘Loyal’ Unipart Automotive staff in quandary while takeover talks continue
We know Unipart Automotive is in need of a buyer. We know at least three companies including Euro Car Parts and Better Capital are talking to the owners about a takeover/rescue plan. But a lot remains unknown and so Unipart Automotive’s roughly 1600 employees are facing a great deal of uncertainty while the talks continue causing some to consider their employment options moving forward.
Continue ReadingGenerous members and supporters wish retired NTDA director well
NTDA past chairman John Tarbox recently contacted Tyres & Accessories as a way of conveying his, the association’s and newly retired director Richard Edy’s appreciation to all those that contributed to his leaving gift.
Continue ReadingEuropean tyre markets up across all segments in 1H 2014
The European Tyre and Rubber Manufacturers Association (ETRMA) has published figures showing that is members experience sales increases across all segments in the first half of 2014.
Continue ReadingUAN: independent automotive aftermarket worth £2.5 billion
According to detailed research undertaken by United Aftermarket Network (UAN), annual UK automotive aftermarket distributor turnover is now estimated to be worth £2.5 billion. The research shows that three companies (Euro Car Parts, Andrew Page and Motor Parts Direct) collectively share around 27 per cent of the total market. In terms of buying groups, three companies including UAN account for over 40 per cent of the total market.
Continue Reading