ELTA Automotive has announced that it has been the subject of a management buyout, a move that will provide the aftermarket parts specialist with a strong platform for exciting future developments.

The buyout was formally agreed on 11th September and sees managing director Ian Hallam, who has worked with ELTA since the company was incorporated 25 years ago, become the company’s co-owner, alongside long-term European partner Luxline spol. s r.o, lead by Vladimír Palacka. Ian Hallam and Luxline become equal shareholders of a new holding company, ELTA Investments replacing the previous holding company, Claverdon Fields.

Ian Hallam commented, “During a year of notable milestones, which has included our 25th anniversary and the launch of the PRO brands, the MBO is the highlight, not just from a personal perspective, but for what it brings to the overall package and what the company can deliver to its customers.” He added, “We are collectively very proud of what the company has achieved so far, but in order to continue our upward trajectory over the next 25 years, there needed to be a fundamental change and that was only possible through a negotiated MBO, which although respectful of the successes of the past, is completely new and therefore able to move in the direction we believe is necessary.”

Ian went on to explain, “Although the PRO brand addition will provide many new opportunities in new territories for ELTA, our relationship with the iconic Lucas brand remains extremely important and will be a cornerstone of our European offering, with a  new licence agreement in place for automotive bulbs, wiper blades and switchgear.”

In order to facilitate this superb opportunity, ELTA will release the UK and Ireland licences for window regulators, mirrors and engine management to existing European licensees creating a simpler structure for Lucas customers throughout Europe.

Ian concluded, “We can now look to the future with confidence and optimism as it will allow us to continue to grow and launch into new markets, introduce more products and consequently make the ELTA proposition an even more powerful and effective offering for the changing face of the aftermarket.”