GMF becomes fourth member of The Parts Alliance to announce major investment from HgCapital
GMF Motor Factors Ltd, the largest independent distributor of vehicle components and garage equipment in South Wales, Gloucestershire and Herefordshire, has announced a significant investment into the business from HgCapital.
Former shareholder Directors Adrian and Ian McNally announced the investment and stated their excitement at seeing the company being able to accelerate its branch network expansion and further strengthen its position as one of the foremost distributors in the UK automotive aftermarket.
Adrian said: “The GMF journey has been a fantastic one so far, with the company trebling in size over the past 7 to 8 years, and with the investment in from HgCapital there’s no reason why this cannot be achieved again.”
Ian said: “GMF will remain a committed and active member of The Parts Alliance, and with the experienced GMF management team of Steve Davies and Wyn Jones continuing in their roles, but now also becoming Board Directors, the GMF business is in excellent hands.”
Charles Jonathan, involved as a consultant in recent years has been appointed Managing Director, and will be an invaluable member of the new GMF Board.
Wyn Jones said: “GMF has always strived to be at the forefront of industry change. HgCapital’s investment allows us to build upon the success the GMF team has helped to create over the years and continue to expand our distribution network.”
HgCapital has a strong interest in the automotive aftermarket and are experts in investing and growing successful businesses and creating industry champions.
Steve Davies said: “HgCapital choose to invest in businesses with market leading positions. It aims to grow and scale these businesses, either organically within existing markets or through acquisitions.”
Parts Alliance colleagues CES (UK) Ltd, Allparts Automotive Ltd and SC Motor Factors are also part of the HgCapital investment portfolio. While retaining their own regional identities and workforces, they will begin working together more closely and concentrate on growing the coverage of The Parts Alliance.
Steve Fulford, chairman of The Parts Alliance, said: “GMF is the fourth member of The Parts Alliance to be invested in by HgCapital since August and highlights the strength and growth taking place in the automotive aftermarket.
“The announcement underlines further The Parts Alliance’s leading position within the sector, which gives us great confidence going into 2013.”