Waterloo, which has branches in Hull, Beverley and Bridlington, was founded in 1928 by current Managing Director Jim Munday’s grandfather.
It becomes a wholly-owned business within the HgCapital-owned Parts Alliance Group but will continue to trade under its own name, serving customers in the East Riding of Yorkshire.
Jim Munday said: “As a three-generation family business, building long term
relationships and providing quality local service are in our DNA. We look forward to working with Peter Sephton and the rest of the management team to accelerate our growth in what are very exciting times for our trade.”
“I’m delighted Jim Munday has agreed to work with us to facilitate the integration into The Parts Alliance and the transition of leadership to David Brooks, founder of SAS Autoparts, as we seek to extend our branch footprint and optimise our distribution and reach into the region,’’ said Sephton.
‘’Jim will continue to advise us on development projects and we are delighted to have Jim and his colleagues at Waterloo as part of our Group.”
Peter Sephton went on to say: “As a unified multi-brand operation, it’s important to us when we bring in new businesses that we maintain that local brand and management as they bring their unique local knowledge while we add national strength. It’s a powerful combination.”