16/11/2009  Manchester advisors sell Chorley car parts firm
The Manchester office of accountancy firm Baker Tilly has advised the managers of Chorley-based car parts firm Multipart on the sale of their business for an undisclosed sum to Indian firm Indian firm TVS Logistics Services. Directors Chris Gateley and Paul Roberts bought the £63m-turnover company from its former South African parent Imperial Holdings in June 2008 but have sold it on to Indian firm TVS, which is part of the $5bn-turnover TVS Group of 30 companies employing more than 30,000. “This marks yet another significant milestone in the history of Multipart,” said Gateley. “The work we have done since acquiring the business last year in successfully winning new business and restructuring to compete more effectively in the changing market, has proved that despite what have been challenging economic conditions, demand for its services remains high. “This deal provides Multipart with a robust financial and wider service range platform for domestic and international growth and I have no doubt that TVS will capitalise on it.” Multipart employs 250 people and provides spare parts to automotive manufacturers at Isuzu, Dennis Eagle, Optare, TVR and the Ministry of Defence. The Manchester office of law firm Brabners Chaffe Street also advised Multipart on the deal.
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