Thomson Snell & Passmore’s corporate team has advised the Motorline Group in connection with its purchase of the Reading Trade Parts Specialist (TPS) Centre for an undisclosed sum.
The acquisition followed a successful bid for the TPS agency agreement from Volkswagen Group UK. TPS sells original equipment parts on behalf of the Volkswagen brands, including Audi, Seat and Soda. The assets of the Reading TPS business were acquired by Motorline from the existing operator. The transaction involved the TUPE transfer of employees and transfer of leasehold property. The Reading centre complements Motorline’s existing TPS offerings across the South East in Brighton, Crawley and Tonbridge.
The Thomson Snell & Passmore team was led by corporate partner Joanne Gallagher with assistance from corporate solicitor Faye Cook, commercial property partner Joanne Wright and employment partner Susanna Gilmartin.
Commenting on the deal, Joanne Gallagher said:
“We are delighted to have been asked to advise Motorline Group on another addition to its business. We are pleased to see the business going from strength to strength and expanding the range of services it provides in the South East.”
Thomas Obee of Motorline Group said:
“The addition of the Reading TPS forms part of Motorline’s continuing expansion down the M4 corridor. This centre is a great business opportunity and a much welcomed addition to our other three TPS centres across the South East.”