Motus acquires FAI Automotive plc
This leading global independent replacement automotive parts distributor is now part of the Motus Group, with effect from 1 October 2021
Motus announces the acquisition of the entire issued share capital of FAI Automotive plc (FAI) through Motus’ wholly-owned United Kingdom-based subsidiary, Motus Holdings (UK) Limited. The acquisition is expected to bolster Motus’ international presence in the UK and will underpin the group’s intention to expand the Motus Aftermarket Parts business offering.
While Motus already owns a substantial network of franchised commercial and passenger vehicle dealerships in the UK through its subsidiary Motus Group (UK) Ltd, and has been present in the UK market for many years, this is the first UK business acquired by Motus Aftermarket Parts in support of its international growth strategy.
FAI is a highly reputable brand in the replacement parts industry, renowned for a quality range of products that cover globally manufactured passenger vehicles and light commercial vans. Its product line-up is similar and complementary to the Motus Aftermarket Parts business, including components for engines, suspension, steering and braking parts. FAI also manages a well-established and growing private label offering.
Many synergies exist between FAI and Motus Aftermarket Parts. FAI has an established client base internationally and in the UK, with 50% of sales being generated outside of the UK. The acquisition of FAI provides Motus Aftermarket Parts with access to the key European aftermarket, while one of FAI’s strategic objectives has been to establish a distribution center in China to better serve its international client base. Now working together, FAI and Motus Aftermarket Parts can procure products at competitive prices from China and Taiwan in the Far East, utilise their combined buying power and share Motus Aftermarket Parts’ existing distribution centres in that region.
FAI is a family-owned business that was started in 1968 by the Walker family. Today it is based in a 10 000m2 leased distribution warehouse in Leighton Buzzard, Bedfordshire in the United Kingdom. FAI deals in over 40 000 product offerings that cover all major vehicle manufacturers. A professional, young and dynamic management team with many years of experience manages the business. The existing management team will continue to manage the business on a day-to-day basis following the transaction.
CEO of the Motus Group Osman Arbee says:
“I would like to take this opportunity to welcome the FAI family into the Motus family and look forward to exploring all the great initiatives that we have collectively started.”
The cash purchase consideration of GBP 27.5 million (ZAR 550 million) will be funded from available cash resources and funding facilities.