Car care products firm Tetrosyl has added £5m to its annual turnover with a swoop for 11 parts and accessories shops in the Midlands.
Bury-based Tetrosyl has acquired the MotorMania chain in a deal which secures 50 jobs.
MotorMania was part of Richard C Hartley, which was in administration. The acquisition takes Tetrosyl’s portfolio of stores to almost 100 and follows its takeover last November of Godfrey Automotive Parts, which had seven stores in Yorkshire and Humberside.
Peter Schofield, chairman of Tetrosyl, said: "The MotorMania business is very well-run and profitable, but could not continue to service the long-term property debt within the group."
David Bennett and Paul Addison, of Grant Thornton, were joint administrators of Richard C Hartley.
Mr Bennett said: "During the sale process, we knew MotorMania had real value to the right buyer.
“In what remains a tough retail environment, we are very pleased to have sold the business to Tetrosyl Group, which is ideally-placed to drive it forward into the future."
