ACM Parts To Be Sold – New AMA Board To Concentrate On Core Repair Business

AMA Group will sell off ACM Parts as part of the new board’s strategic plan to operate the group as a pure collision repair business, including associated services.

Under the plan, each business unit – AMA Collision, Capital SMART, Specialist Businesses and Wales – will operate with their own brand and offer, but will share a common strategic framework and “values-based approach” to operating. Each business unit will maintain ownership of its costs, which AMA said will drive greater cost discipline and limit central costs.

AMA Group said it will classify ACM Parts as a discontinued operation and record approximately $47 million in ACM Parts assets as “held for sale” in the company’s year-end financials. ACM Parts’ unaudited pre-AASB-16 EBITDA losses for the 2024 financial year to 31 May 2024 are $3.1 million. AMA appointed Pitcher Partners to advise on the sale.

“I congratulate the entire team at ACM Parts, who have consistently continued to build on record sales results as their range has expanded. AMA Group looks forward to remaining a customer of ACM Parts into the future and seeing it flourish under new ownership,” said Mathew Cooper, CEO of AMA Group.

The company also announced a $2 million increase in the bottom end of its previously announced FY2024 earnings guidance. AMA Group now expects to achieve earnings of $44 million to $49 million (up from $42 million to $49 million) normalised pre-AASB 16 EBITDA, including ACM Parts.