Shoosmiths has advised Peugeot Motor Company plc on the sale of Motaquip, an all-makes car part distribution business to Luton-based Comline Auto Parts Limited, an auto parts business.
As part of the transaction, Comline Auto Parts set-up Motaquip Limited as a new company to purchase Motaquip from Peugeot.
Motaquip was established in 1981 and is now a stand alone business unit supplying a comprehensive range of spare parts & components, predominantly for the service and repair of all makes of vehicles - from alternators to wiper blades, Alfa Romeo to Volvo.
Shoosmiths' legal advisors included Rachel Seaton in corporate, who led the deal; Alastair Peet, corporate; Charlie Rae, employment; Kate Featherstone, tax; Catherine Hood, property; Paul Carney, pensions, and support from commercial secondee at Peugeot, Magdalena Konig. Robin Webb, Technology and Outsourcing lawyer, is the client partner and head of Shoosmiths' Automotive Team.
Shoosmiths' Rachel Seaton said: 'It was a pleasure to guide Peugeot through the sale of its all-makes parts business which required cross-team working, demonstrating our strength and depth across all major areas of corporate law.' Shoosmiths' Robin Webb added 'As UK legal adviser to Peugeot Citroën this is one of many strategic deals we have helped the business complete. It is another example of the strong role we play in the automotive sector working closely with major automotive manufacturers. Our understanding of the sector, coupled with our experience and expertise, means we are very well placed to help our clients achieve their strategic goals'.
David Connell, Director at PSA Peugeot Citroën, said: 'Thank you to all at Shoosmiths who enabled a successful and swift transaction. We trust in Shoosmiths to get it right for us and its commitment is further underpinned by their secondment to our in-house legal team.'
Shoosmiths' corporate team has advised public and private companies, management teams, investors and debt providers right through the business life cycle. Shoosmiths works with businesses from start up and first round finance through to mergers and acquisitions, MBO and MBI transactions, development funding and on exits, by way of sale, listing or private equity investment.