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Phoenix supports Andrew Page’s acquisition of Camberley Auto Factors

Andrew Page, a distributor of automotive parts to UK garages, servicing centres and retailers, has acquired Camberley Auto Factors for an undisclosed consideration.



Phoenix Equity Partners, a UK middle-market private equity firm and the majority shareholder in Andrew Page, has invested additional capital to fund the acquisition and to further accelerate AP’s growth.
 
Phoenix initially invested in Andrew Page in March 2010 in a transaction which valued the business at c. GBP100m. AP has grown strongly since Phoenix’s initial investment. In March 2010 the business operated from 45 regional sites and employed approximately 1,100 staff. Following the acquisition of Camberley, the combined business will operate from 90 sites and employ approximately 2,000 staff.
 
Camberley is a wholesaler of automotive parts operating across 26 sites in the south of England. Camberley was acquired by AP from the Russell family.
 
The transaction has been undertaken by AP’s existing management team, led by chief executive Mark Roberts and chief financial officer Mark Day.
 
The company has also appointed a new chairman, Duncan Wilkes, who will work alongside the executive team, Andrew Page and Phoenix. Wilkes is the former chief executive of Nationwide Autocentres (now Halfords Autocentres), a chain of over 220 car service centres and a previous Phoenix investment, which was sold to Halfords in February 2010.
 
Roberts says: “The senior management team at AP and our loyal staff look forward to working with the Camberley team to create one of the UK’s largest and most successful independent motor factors. We are also excited at drawing on the expertise of our new chairman, Duncan Wilkes, as well as continuing to work with Phoenix.”
 
John Rastrick, a partner at Phoenix, says: “We see the potential for substantial future growth with Andrew Page, both organically and by acquisition and are committed to supporting the company to achieve this. We also are very pleased with the appointment of Duncan who joins the board at an exciting time in its development; we are looking forward to working with Duncan again.”

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