22 May 2024
The voice of the independent garage sector

Employees hit the BullsEye in car parts firm sale

BullsEye Superfactors, a family-owned car parts and accessories retailer and motor factor in South Yorkshire, has announced the sale of the business to an employee-owned trust.

The deal, financed by NatWest, is a significant milestone for the firm, which has a workforce of about 160 and an annual revenue of around £17 million.

By selling the company to its employees, BullsEye said it is ensuring that its workforce becomes direct beneficiaries of the company’s continued success.

Adrian Wesbroom, MD at BullsEye, said: “As a family-owned business, we are proud of the legacy that we have built over the years and we’re excited about the opportunities that lie ahead as we transition to employee ownership.”

NatWest’s funding support for the deal includes £4.5m in facilities, comprising a £2.5m term loan and a £2m invoice discounting facility, enabling Bullseye Superfactors to have a smooth transition to employee ownership while continuing to serve its customers.

Pictured, from left: Daniel Atchinson (NatWest), Amelia Rowan (NatWest), Stacy Phillips (BullsEye), Liam Douglas (NatWest), Adrian Wesbroom (BullsEye), Paul Trudgill (Knights), Scott Godfrey (Bullseye), Peter Turk (Knights), Samantha Simpson of BullsEye, Laura Hayes (Shorts) and Andy Ryder (Shorts).