OXFORD, England, July 9, 2014 /PRNewswire/ --
Unipart Automotive, the branch network which was previously known as Partco, was sold by Unipart Group to a company controlled by H2 Equity Partners in 2011. Unipart Group retained an equity stake, but a condition of the sale was that Unipart Group exercised no control over the business.
Unipart Automotive was granted a restricted license to use the Unipart brand on a limited range of wholesale outlets and a tightly controlled range of automotive car parts.
Recent press coverage has confused Unipart Automotive with Unipart Group. Some facts have been incorrect. For instance, Unipart Automotive was referred to as being part of British Leyland, this is incorrect, Partco was not part of British Leyland.
It is important to note that Unipart Group and Unipart Automotive are different companies. Unipart Group continues to have a strong balance sheet and strong growth with a range of blue chip clients in its core business in manufacturing, logistics and consultancy sectors globally.
For any futher information contact:
Frank Nigriello, Director of Corporate Affairs
tel +44-(0)1865-3833-39 / +44(0)-7801-0174-30
SOURCE Unipart Group