BOSSES at transport and parts distribution firm Unipart have said more than 200 jobs at one of its key divisions are secure after they sold off a controlling interest in the business.

A total of 50.1 per cent of Unipart Automotive, a major supplier of car parts and workshop equipment, has been bought up by multi-national private equity firm H2 for an undisclosed sum.

But the new boss of the division, which employs about 200 staff at the group’s headquarters in Garsington Road, has pledged he intends to grow the business and that jobs are secure.

Patrick Kalverboer, managing partner at H2 and executive chairman of Unipart Automotive, said: “Our approach is one of long-term involvement and investment. We build better businesses.

“We want to create a market leader in the UK and get it back on track.”

Unipart chief executive John Neill said he was attracted to H2’s offer because the company already had a controlling interest in Dutch firm Sator Holding, which is the market leading importer and distributor of car parts in Belgium, Luxembourg and northern France.

He said: “What is very attractive is H2’s whole approach.

“They understand the business, have significant financial firepower and take a long-term view.

“We are really pleased. We told the employees first and they are very positive about it.

“This will be good for our customers and a great opportunity for suppliers and employees because there is an opportunity for them to grow as the business grows.”

The deal is the second major announcement by Unipart this year.

In February it signed an “unprecedented” agreement which saw a 12-year contract extension with DIY retailer Homebase to distribute its products around the UK.

A total of 200 jobs will be created over the next two years taking the Cowley workforce to more than 1,200.

Mr Kalverboer said a key factor would be combining key areas of Sator Holding with those of Unipart Automotive to boost Unipart’s product range from 90,000 to 160,000 products.

But because the businesses operated in separate markets, there would be no duplication of roles with “no risk of job losses”.

A multi-million-pound joint investment is planned in a bid to see the company grow to become one of the top five car parts suppliers in Europe.

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