The acquisition includes three sites, the Skelmersdale HQ 25 acre site, a site acquired recently by Hills in Scotland and a Gloucestershire parts hub. All assets including the Hills UK transporter fleet and specialist technology systems will be included in the sale.
Copart Inc, from its inception, has been an innovative company working in continuous collaboration with its customers on both the seller and buyer side. When our customers asked us to expand into the green parts market we were keen to meet their needs to help facilitate transparency and provenance in the repair cycle.
In addition compound factors such as Brexit, the cost and availability of new parts, and our ambition to align to our customers ESG needs, coupled with our sustainability strategy means that now is the most appropriate time to add this capability.
The Hill's philosophy is totally aligned to Copart culture and we are delighted that Ian, Lucy and their team will continue to run this new partnership venture. Over the years Hills has had many approaches to sell the business but chose Copart as they felt this was the best way to secure future growth within a company that shares the enthusiasm and passion for customers as they do.
Copart intend to fully leverage 'The Green Parts Specialist' brand and offer UK wide solutions by leveraging Copart's nationwide infrastructure.
Copart's UK CEO Jane Pocock commented on the deal:
"I am super excited to welcome the Hills team to the Copart family and looking forward to extending our range of services that give our sellers the very best choice around their Cat S and Cat B damaged vehicles and engaging with the body shop networks to provide parts with provenance."
"When you combine the strength of our salvage solutions, both in the volume and capability sense, with Hills' world class green parts service and progressive inventory platform, we really can offer an unrivalled nationwide service.
"In addition to that, our huge buyer base will benefit as we will provide a sustainable and viable 'parts shop' offering them access to both the largest stock of vehicles, and now green parts."
"Looking forward Copart will operate the business as a complimentary entity, retaining all existing employees and expertise, supplementary to our salvage and automotive businesses.
"We also recognise the close and very valuable relationships Hills have with their own existing customers and fully intend to ensure these remain 'as is' and managed by the team of experts at Hills.
Copart remains a truly innovative company with a very exciting future. This acquisition coincides with Copart celebrating 15 years in the UK and demonstrates our vision to be the partner of choice for our customers."