- Quinn advises Phoenix Equity Partners Management buy out valued at £100 million
Quinn advises Phoenix Equity Partners on Andrew Page Management buy out
UK leading, Management Due Diligence specialists The Quinn Partnership, has advised Phoenix Equity Partners in their investment in Andrew Page, leading UK distributor and wholesaler of automotive parts. This is the 12th investment from Phoenix’s £375 million fund, which was raised in April 2006.
Leeds based, Andrew Page is the UK’s largest regional wholesaler of automotive parts, distributing to customers across the Midlands and Northern England. The Company provides an industry-leading range of products, coupled with rapid, best-in-class delivery times and levels of customer support. The company’s has seen rapid growth and now stands at 46 regional sites and employing approximately 1,100 staff.
Phoenix’s investment, together with facilities provided by HSBC, RBS and Lloyds TSB, will support the management team in continuing to develop and grow the business. The transaction values the business at c. £100 million. Chairman Andrew Page, grandson of the founder, will remain a shareholder while management, led by MD Mark Roberts and finance director Mark Day, will take a stake in the company.
Commenting on the transaction, John Rastrick, a Partner at Phoenix, said: "Andrew Page Limited has an outstanding reputation built over many years on the strength of its customer service. Andrew, Mark and the team have done a fantastic job in building a truly impressive group, operating at the forefront of its industry and we look forward to working with them in the years to come. We see substantial further growth potential for the business and are committed to supporting the Company to achieve this."
Paul Quinn, Director at The Quinn Partnership commented “We’ve enjoyed working with Phoenix and are impressed by the focus, dynamism and energy of the team under Mark Roberts.”