TVS group has acquired Universal Components, UK Ltd (UCUK), a manufacturer and wholesale distributor of specialist vehicle parts and accessories.
TVS Europe Distribution, a subsidiary of TVS Group, acquired the Sheffield-based vehicle parts distribution business Universal Components UK.
This is the second acquisition by the TVS Group in the UK after it bought Multipart Holdings in 2009.
With the two acquisitions, the group will have a turnover exceeding Rs1,000 crore with 500 employees in the UK alone.
The company sells vehicle parts and accessories in more than 30 countries around the world.
Founded in 1908, UCUK was acquired by Gary Hadley and David Kernahan in 2004. Kernahan will remain as managing director as part of the deal with TVS Europe Distribution.
Law firm Schofield Sweeney advised the owners of UCUK on the disposal while Paul Hardy of Paul Hardy Transaction Management provided corporate finance advice.
In 2008 UCUK had bought Pollard Beaumont, a commercial vehicle parts wholesale distributor, which has operations in Sheffield, Haslingden and Trafford Park.