Leading European automotive aftermarket group Alliance Automotive Group (AAG) has entered into a definitive agreement to acquire 100% of the shares of PartsPoint Group (PartsPoint).
PartsPoint, currently a subsidiary of family-owned AutoBinck Group, has activities in the Netherlands and Belgium. It operates a comprehensive network of 150 branches under the network banners of Brezan, Staadegaard-TC and Dabeko. In addition, the company serves more than 60 independent wholesalers through its national and regional distribution centres. A combination of organic growth and numerous acquisitions has enabled PPG to triple its business over the past 5 years to achieve annual revenues of approximately €300 million. PartsPoint is confident that AAG brings the necessary resources to drive PartsPoint’s next phase of growth for the benefit of its employees, customers, and suppliers.
Jean-Jacques Lafont, CEO of AAG said “PartsPoint has a leading market position in the two key European markets of The Netherlands and Belgium which are contiguous to our existing operations. It is run by a superb management team which I am sure will develop further growth opportunities in its markets. We are pleased that the PartsPoint management team is committed to staying on board to lead the company into this next phase of its development”.
Cor Baltus, CEO of PartsPoint said “We are grateful to AutoBinck which supported us during our rapid expansion. With their trust and confidence, we have been able to relaunch the business since 2013. We are pleased to become a part of one of the leading aftermarket groups in Europe which will enable us to continue to grow and to invest in marketing, IT and product development to service our customers even better in the years to come”.
The transaction is subject to customary closing conditions including the relevant regulatory approvals and consultation with the relevant employee representative bodies.