High street retailer Halfords has acquired Nationwide Autocentres, a car repair company, for £73.2 million in cash.

High street retailer Halfords has acquired Nationwide Autocentres, a car repair company, for £73.2 million in cash.

Nationwide Autocentres offers car servicing, MOTs and repair services and has 224 outlets across the country. In 2006, The West Midlands-based company was sold to private equity firm Phoenix Equity Partners in a £49 million management buy-in led by CEO Duncan Wilkes. As part of the deal, Nationwide will be re-branded as Halfords Autocentres.

David Wild, chief executive of Halfords, says that the move into the car servicing and repair market will complement its existing car parts business.

In 2009, Nationwide generated earnings before interest, tax depreciation and amortisation (EBITDA) of £10.1 million on revenue of £97 million.