Industrial holding and management company Invicta has bought UK truck parts distributor Imexpart (Imex) as part of its international expansion to wean itself off the local market.
Invicta, valued at about R2.8bn on the JSE, acquired a 100% stake in the company based in Birmingham and Leeds for an undisclosed amount via its wholly owned subsidiary, Euro Driveshaft.
Imex will form part of Invicta’s replacement parts auto-agri (RPA) segment, which accounted for 14% of pretax profits in its 2023 financial year.
Primarily serving customers in the UK and Ireland, it provides parts for DAF, Mercedes, Volvo, MAN, Iveco, Renault, Scania and other trucks, and parts for some cars, vans, light commercial vehicles, coaches and buses.
“Imex is operating successfully in the British and Irish aftermarket parts distribution industry and its acquisition provides a platform for Invicta to grow its global RPA business,” Invicta said.
“We aim to realise synergies through Invicta’s procurement capabilities, sourcing inventory for Imex’s clients on a more cost-effective basis, and providing access to a broader range of products. In addition, Imex has product ranges which can be cross-pollinated into Invicta’s existing operations,” it said.
The effective date of the acquisition was July 1.
This comes only a day after Invicta announced it bought a 50% stake in aftermarket heavy-duty diesel engine parts supplier KMP Far East (KMPFE) in Singapore, as part of its diversification drive into new regions on April 1.
The company, chaired by business tycoon Christo Wiese, said subsidiary KMP Holdings, which is part of Invicta’s replacement parts earthmoving (RPE) segment, acquired 50% of the share capital of the company established in 2005.
Invicta CEO Steven Joffe told Business Day in June that it wanted to grow internationally as it benefited from the weaker rand and to reduce the effects of the muted SA market.
It is seeing a resurgence in mining in Democratic Republic of Congo (DRC) while it continues to operate in Mozambique, and is performing well, particularly on the east coast.
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