PHE (Parts Holding Europe)
PHE (Parts Holding Europe) is a leading omni-channel distribution in the independent aftermarket for vehicles’ spare parts, with strong positions across seven Western European markets: France, Spain, Italy, the Benelux and Ireland. PHE’s mission of ‘promoting affordable and sustainable mobility’ is enabled by its highly engaged workforce, customer-centric culture and a best-in-class operating model built on logistics excellence and a dense distribution network. The company operates in a large, resilient, predictable, structurally growing and fragmented market, offering substantial long-term opportunities.
Investment case - Our Journey with PHE
D’Ieteren Group acquired PHE on August 4th, 2022 , recognizing a strong alignment with its investment philosophy and values. PHE’s winning model is based on an excellent management team, superior scale and sourcing capabilities and its advanced logistics and omni-channel distribution networks.
Since joining D’Ieteren Group, PHE has benefited from strong strategic, operational and financial support designed to accelerate profitable growth and reinforcing its leadership position. Key value‑creation initiatives include:
- Leveraging of D’Ieteren Group’s ecosystem to modernise processes and strengthen capabilities across logistics, digital tools, procurement, technology, and supply chain capabilities.
- Support of organic growth initiatives and expansion in key core markets, complemented by selective acquisitions to enhance scale and geographical reach.
- Reinforcement of the leadership team and organisational structure to support long‑term scalable growth.
- Optimisation of the capital structure, resulting in improved credit metrics and enhanced financial flexibility.
D’Ieteren Group is convinced that PHE, active in a structurally growing market where scale is critical, is ideally positioned to drive consolidation and capture incremental market share.
The path ahead: “A growth platform with significant value creation potential”
D’Ieteren Group remains committed to supporting PHE as it executes its long-term strategic roadmap. Together, we aim to unlock further value through:
- Expanding the core business via organic growth and profitability improvement
- Extending the footprint in existing geographies and support growth in adjacent markets while extracting synergies from M&A activity and economies of scale
- Positioning the business to benefit from longer-term megatrends in the vehicle industry
- Advancing PHE’s ESG journey, building on the company’s strong foundations and embedded sustainable impact.
