John Wylie’s Tanarra Capital has built a $100 million stake in ailing car parts group Bapcor and is pushing for a board shake-up and an overhaul at a company which it says has “lost its way”.

Tanarra, an activist investment group which has used its clout to agitate for change at property giant Lendlease and pathology group Healius, disclosed on Friday afternoon that it had built a 6.45 per cent holding.