A HEREFORDSHIRE spare parts company for vintage cars and motorcycles was sold for the first time in its history.
Corporate Director Tim Edwards, Thursfields Solicitors, assisted by Ellie Bryan, advised Jeremy Holden, Founder of Holden Vintage & Classic Ltd, on Linton Trading Estate, Bromyard, in the sale to SNG Barratt Group Ltd in Bridgnorth, Shropshire, for an undisclosed amount.
Tim Edwards said: “Holden Vintage & Classic is a family-owned mail order business, established in November 1988.
“It was the first company to sell classic car and motorcycle parts on the Internet.
“SNG Barratt Group Ltd is an internationally renowned classic parts specialist who was started by Stephen and Hazel Barratt in the early 1980s, originally as Jaguar specialists, especially for hard-to-find E-type parts. . ”
The company took off in the 1990s following the acquisition of SOVY, a supplier of parts to Jaguar, Land Rover, Bentley, Aston Martin, Bristol and other British automakers.
The business is now run by his son Julian Barratt and employs a team of over 100 people, supplying tens of thousands of parts worldwide.
Holden Founder Jeremy Holden said, “The company started out as a Lucas Electrical specialist for which we are known. Fortunately, some original tooling is still available to us, and in other cases, we have ordered new tooling to allow the manufacture of parts otherwise unobtainable.
“The product line has now expanded to cover many other parts and accessories for classic cars and motorcycles, including clothing, books and tools for the garage or workshop.
“We are the preferred location for auto parts and accessories for many historic car manufacturers such as Aston Martin, Land Rover, Caterham, Jaguar and Mini, and also have an aftermarket parts catalog for Healeys, Bristols, Jaguar XK and Moreover. ”
He said good timing was the main factor in the decision to sell Holden Vintage & Classic Ltd.
“Steve Barratt was the first person I had lunch with in 1988, when I made the decision to go from an engineering background with an interest in classic cars to starting a parts business. for old cars.
“The deal took a few twists and turns along the way, but I was very happy that Thursfields fielded a team led by Tim Edwards who were always on hand with advice and support,” he said. .
Tim Edwards added, “This was clearly an agreement with enormous synergy and we congratulate Jeremy on building such a successful business and SNG Barratt Group on deciding to expand their reach and range through the acquisition of Holden Vintage & Classic.