The UK’s manufacturing industry has been hailed as one of the key drivers of the country’s economic recovery over the past year.
A large part of that has been down to car production, which has seen both UK companies expand overseas and look to bring areas of the supply chain back to British soil. The thriving automotive industry is in turn having a significant impact on the increasing numbers of mergers and acquisitions (M&As) in the sector, according to a leading industry expert,
John Leech, the UK head of automotive at KPMG, said that his company acted as corporate finance advisor to vendors of automotive suppliers on five separate successful deals in the last seven months. What’s more, he is confident that this level of activity is only going to increase over coming months.
The latest figures from the Society of Motor Manufacturers and Traders revealed that car production had grown by 12 per cent in March 2012, driven by demand from the EU. This is clearly being reflected in growing confidence from companies operating within the automotive supply chain; the desire to purchase competitors is always a strong indication that a firm is assured of both its own and the market’s long-term future.
Mr Leech also cites the expansion of big names like Jaguar Land Rover into foreign territories as an important factor in the increasing activity in this space, as it requires them to invest in overseas facilities often through buying other smaller firms. Furthermore, large overseas companies are looking at the UK market as a strong investment option, again contributing to business acquisitions in the automotive industry.
KPMG’s automotive M&A specialist, Simon Heath explained: “The UK has risen up the list of favourable locations within Europe to invest in. We have a clear growth story, premium carmakers enjoying attractive margins and the most joined-up industry and government in Europe with a focus on supporting innovation such as low-carbon vehicles.” 
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