Halfords adds UBS to advisers team

CAR parts retailer Halfords has bolstered its team of City advisers ahead of its planned flotation in the summer.

The group, with a chain of more than 400 outlets, has chosen investment bank UBS to work alongside Citigroup and Merrill Lynch, who were appointed last month. It is thought that the company is now looking for a further broker to complete the advisory team.

Halfords was bought from Boots by private equity group CVC Capital in 2002 for £427m. Analysts now reckon it could be valued at about £800m in what will be one of the biggest flotations this year.

The company is chaired by Debenhams chief executive Rob Templeman, and the chief executive is David Hamid, who used to work for Dixons.

Halfords would not comment on the appointment of new advisers.