DC Advisory advises Epiris on its acquisition of GSF Car Parts from LKQ Corporation

Background

• GSF Car Parts (GSF) is a leading national distributor of automotive parts in the UK. The business offers 180k branded and own-label parts for all makes of petrol, diesel and electric cars and vans as well as workshop equipment and technical support
• GSF’s customers include multi-site national chains such as Kwik Fit, Halfords and Green Flag, as well as independent garages and retail customers. With 180 branches across the UK, GSF supplies a comprehensive product range sourced from around 700 global suppliers
• LKQ Corporation (LKQ) is a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles. LKQ has operations in North America, Europe and Taiwan. LKQ is headquartered in Chicago, Illinois
• Epiris is a UK mid-market private equity firm which invests in opportunities to transform businesses in partnership with exceptional management teams, targeting control positions in UK-headquartered businesses

Process

• DC Advisory acted as exclusive financial advisor for Epiris on the transaction
• DC Advisory’s Capital Advisory practice was also engaged to run the acquisition financing process, resulting in a highly bespoke acquisition debt financing solution provided by Atlantic Park

Outcome

• After a competitive process, Epiris agreed to acquire GSF from LKQ
• The transaction closed 25 October 2023
• Financial terms of the transaction were not disclosed
• This transaction extends DC Advisory’s significant body of experience in automotive aftermarket parts and wider mobility sectors

“We chose to work with DC on this important transaction based on their strong track record in the aftermarket parts sector. Throughout the deal process DC have been first rate providing strong advice, guidance and solid deal execution support and worked as a seamless extension of the Epiris team.”

“GSF is one of the key players in the UK automotive aftermarket parts distribution space. The business will move from strength to strength under the stewardship of Epiris. This transaction further highlights DC Advisory’s sector expertise in automotive aftermarket parts, as well as our ability to advise on complex, competitive processes"