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Hilco Capital is pleased to confirm the sale of Auto Spares and Parts Limited (“ASAP”), the independent car parts wholesaler, to a management buy out led by its managing director, Derek Wales.

ASAP was founded in 2018, and Hilco has worked with its management team to develop the business over a two-year period.

Steven Pell, investment director at Hilco Capital, commented: “ASAP is a rare new entrant to the UK auto spares market. Derek is a highly experienced professional in the sector and is perfectly placed to take ASAP on the next stage of its journey. We would like to thank everyone at ASAP for all the hard work and dedication they have shown to the business over the last two years.”

Read our ASAP case study