IAD is the largest automotive distributor and cash and carry operation in the UK with 15 branches. It has been operating for 30 years, supplying aftermarket products to the independent motor trade as well as national multiples and garage forecourts.
IAD, which trades as Maccess, has a turnover of £56m in the UK. The acquisition will strengthen Bailey Capital’s business interests within the distribution non-food aftermarket.
A spokesperson for Bailey Capital says: “The deal represents good news for IAD, its suppliers and the Automotive Aftermarket as a whole.”
IAD distributes more than 25,000 automotive product lines from leading brands, including Castrol, Draper, Tetrosyl, JVC and QH Automotive, as well as its own brands. Bailey Capital’s investors specialize in acquiring companies with potential for growth.
It says ambitious plans are already being drawn up for growth of the IAD/ Maccess business model in Europe, possibly through further acquisitions.
A strategically important element of the purchase has been to secure continued product supply for national contracts; as a result Bailey Capital has also been in negotiations with Tetrosyl, the largest manufacturer and supplier of car care and motor oils in Europe.
Tetrosyl is also the manufacturer of the majority of IAD’s own brand products. Tetrosyl has taken a minority stake in Bailey Capital and pledged its full support to the venture. Bailey Capital stresses that Tetrosyl will have no trading involvement or day to day running of the business.
It is not yet known if IAD acting managing director Bob Ackroyd will continue in his current role.