• Andrew Page Limited – Buy Side Support
Deals:

Andrew Page Limited – Buy Side Support

02 August 2017

Sector

Automotive

Business description

Andrew Page has been in operations for in excess 100 and operates delivering car parts and garage equipment to the motor industry. It operates from 102 branches nationwide.

Situation

Andrew Page Limited, was experiencing a high level of financial distress as a result of challenging trading conditions and third party advisors were appointed to the business to seek further funding.

BDO Role

BDO Special Situations M&A was approached, and subsequently appointed, by a world-wide market-leading distributor of car parts and accessories – Euro Car Parts - in order to provide buy side support services in respect of a potential acquisition.

BDO worked with its client to deliver a pre-and post-transaction strategy for Euro Car Parts with high level contingency planning considerations for post-acquisition.

Outcome

Our client was able to secure the business by way of a purchase of the trade and assets through a pre-pack administration largely preserving the majority of the business.

BDO also worked with the purchaser to facilitate a smooth integration of the two businesses, bearing in mind the previous level of financial distress. These post-acquisition issues included resolving retention of title claims, suppliers and dealing with ransom creditors so the buyer could focus on the operational integration of the business and assets of Andrew Page Limited.