A deal between Euro Car Parts’ owner LKQ Corporation and administrators from Price Waterhouse Coopers has resulted in ECP taking over the whole of the Andrew Page network, barring seven of its 109 branches, with immediate effect. Terms of the deal have not been disclosed, although a statement issued on October 3 explains that the agreement was a pre-packaged sale of the business and assets of Andrew Page ltd, Solid Auto (UK) and Colton Parts Company ltd.
The acquisition comes after months of speculation of the future of the Andrew Page business and follows from the revelation on Monday that the company had filed a notice of intent to appoint administrators at Manchester High Court.
In another statement, ECP’s CEO Martin Gray reassured staff by saying that the new owner is ‘committed to retaining all team members’ and that the Andrew Page brand will be retained. Mark Saunders will remain as MD of the company and both the Leeds head office and the Markham Vale distribution centre were included in the deal.
Mark Saunders said: “We are looking forward to working with Euro Car Parts and LKQ at an exciting time for the motor parts sector, which is undergoing consolidation throughout Europe.”