Truckline GM excited about future under Bapcor banner
IT'S business as usual for now at Truckline's 22 branches across Australia after parent company CNH Industrial sold Australia's largest aftermarket truck and trailer parts retailer to automotive parts group Bapcor.
But Truckline general manager Martin Hinkley said the Bapcor deal is an incredible opportunity for Truckline, its staff and its customers.
"I'm very excited about the potential this unlocks for Truckline in the years to come. As part of the Bapcor Group we collectively increase our strength within the commercial aftermarket parts sector,” said Mr Martin.
"The acquisition is scheduled to settle on December 2. As always, our commitment is to the customer and this will continue throughout the acquisition process, and beyond.”
Bapcor, which runs 950 outlets under brands such as Burson, Autobarn, Autopro, Midas and Sprint Auto Parts, also bought Diesel Drive, a specialist in the sale of Japanese commercial truck spare parts that operates in Sydney, has 14 team members and boasts revenues of about $13million.
The combined purchase price of Truckline and Diesel Drive is reported to be $48million.
"We are excited to welcome these commercial truck parts teams to Bapcor,” Bapcor chief executive and managing director Darryl Abotomey said.
"These acquisitions in commercial truck parts further strengthens Bapcor's position as a specialist provider of automotive aftermarket parts, accessories, automotive equipment and services.”
"The group is uniquely positioned to provide after-market parts to all forms of road transport.”
"Australia continues to be dependent upon the logistical services provided by both the heavy and light commercial truck sectors,” he said. "We see considerable opportunities for Bapcor with further expansion opportunities.”
IVECO, the commercial vehicles brand of CNH, will continue to supply and serve its Australian customer base with original equipment parts and service through its after-market division.