Herbert Smith Freehills is advising Metcash on its acquisition of the Australian Truck and Auto Parts Group (ATAP), which includes Auto Brake Service (ABS), for approximately $84 million, including transaction costs.
ATAP is a nationally based business which specialises in brake, steering and suspension products. ABS is a national franchise network of 53 brake and steering and auto repairs specialists.
The businesses and related assets and operations will be acquired by Australian Automotive Distribution Pty Limited (AAD), a newly incorporated subsidiary of Metcash Automotive Holdings Pty Limited. AAD, together with the Automotive Brands Group, which currently owns and manages the Autobarn franchise (mainly retail stores), Autopro dealership group (mainly trade based stores) and its Car Part division which services a number of independent operators, is part of Metcash’s hardware and automotive pillar.
The Herbert Smith Freehills team was led by M&A partners Martin Shakinovsky and Andrew Rich and supported by senior associates Emma Rudd and Rosanne O’Connor, as well as solicitors Richard Simpson, Malika Chandrasegaran and Lorraine Pun. The Herbert Smith Freehills team worked closely with Metcash’s legal team consisting of Greg Watson, Lani Sutherland, Carole Chapman and Ruby Rozental.
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