and franchisor to the automotive market
The Group consists of Parts Incorporated Africa, the national hub and spoke distribution business, NAPA, the marketing and buying co-operative to the members for leading local brands, and the franchisees Midas Parts Centre, Motolek, ADCO, CBS, ACD and Battery Hub that add value to the retail sector.
• Motolek SA (Pty) Ltd was originally founded in 1968 to service the auto electrical market. 45 years
• NAPA, the marketing and buying co-operative was established in 1973 to service the NAPA members with leading local brands efficiently and directly from the suppliers. 40 years
• The first Midas Motor Parts Centre was opened in 1983 as the Midas Spares Shop Franchise. 30 years
• Midas Group was listed on the Johannesburg Stock Exchange in May 1986 to provide financial support for ongoing growth.
• ADCO was acquired by the Group in 1990 and the ADCO franchise launched to service the diesel pump room market. 22 years
• The CBS franchise was acquired by the Group in 1996 servicing the heavy-duty market with their brake and clutch needs. 53 years
• In 2002 the Management acquired the Group in a leveraged buyout (LBO) from the previous listed shareholders with the financial backing of ABSA Bank.
• In 2003, as Phase II of the LBO, the franchise members were introduced as Shareholders (Major Move 101) together with an empowerment partner, Jomo Sono and Mediro.
• General Motors SA invested in the Group in 2005 with the view of adding procurement leverage.
• In 2007 the Auto Care & Diagnostics franchise was launched to provide the workshop market with a national identity, a parts supplier and many other value adds.
• In October 2008, Midas Group agreed to buy back the shareholding from General Motors South Africa due to GM having to revert to its core business.
• On 1st December 2009 IMPERIAL Holdings Limited was introduced as a majority shareholder in Midas Group which aligned perfectly with the strategic direction of both IMPERIAL and Midas.
