Tag Archive | "LKQ"

SUKHPAL AND LKQ: ‘SIGNIFICANT INVESTMENT’ IN HGV FACTOR CHAIN

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SUKHPAL AND LKQ: ‘SIGNIFICANT INVESTMENT’ IN HGV FACTOR CHAIN


Truck part supplier Digraph Transport Supplies has been acquired in a joint deal between LKQ Corporation and Sukhpal Singh Ahluwalia. Terms of the deal have not been disclosed.

The move is significant as it marks the first time that both the founder of Euro Car Parts and the corporation that now own it have embarked on a deal as joint investors.

14-branch Digraph will retain all current employees and James Rawson will remain as MD. Rawson has also made an investment in the business.

CAT spoke briefly to Sukhpal to confirm the deal had taken place. He said that the ‘fragmented’ state of the HGV parts market lead it to being an area considered for expansion into for some time and that Digraph was the best fit in terms of matching ECPs ‘sales and customer service ethic’.

In a statement to his team, James Rawson said: “This investment will enable Digraph to access to the resources we need to grow the business and implement our expansion plans. We will work closely with ECP to enhance customer service levels. I am thrilled to be working with Sukhpal and taking up the challenge of extending the Digraph service to customers throughout the UK.”

In related news, Sukhpal has extended his three-year contract with ECP, retaining his position as Executive Chairman.

 

 

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ARLEIGH INTERNATIONAL ACQUIRES A.S.A.P SUPPLIES

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ARLEIGH INTERNATIONAL ACQUIRES A.S.A.P SUPPLIES


Arleigh International Ltd, a Euro Car Parts company, announced today the acquisition of marine distribution specialist A.S.A.P. Supplies Ltd. Based in Suffolk, A.S.A.P. is one of the UK’s largest stockists of marine equipment and spare parts.

Established in 1989, A.S.A.P. provides a huge breadth of marine products for customers’ maintenance, repair and overhaul projects. A.S.A.P.’s offerings are supported by a highly-skilled customer service team that provide guidance across its vast product mix of more than 70 trusted brands.

Arleigh International was itself acquired by ECP in August last year along with the Nova Leisure and Midland Chandlers brands. The brands are among the largest in the touring and leisure boating sectors.

Martin Gray, CEO of Euro Car Parts, said: “A.S.A.P Supplies is a complementary fit with Arleigh and is a further enhancement of Euro Car Parts’ Specialist Products Division. This agreement further cements Arleigh as the market-leading distributor of products to the UK caravan, leisure and marine markets.

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BREAKING: ECP PARENT ACQUIRES ANDREW PAGE

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BREAKING: ECP PARENT ACQUIRES ANDREW PAGE


Following yesterday’s news that Andrew Page was on notice of intent to appoint administrators.

A statement from the company reads as follows:

 

Andrew Page today announces its sale to LKQ Corporation (LKQ) in a strategic acquisition by the US buyer. 

The purchaser, an S&P500 company listed on Nasdaq, is a leading motor parts distributor in the US and the owner of Euro Car Parts in the UK.

Leeds-based Andrew Page is a major distributor of quality auto parts, workshop equipment, tools and diagnostics, primarily to independent garages. Founded in 1917, the company has 109 sites and over 2,000 full time and part time staff. It had sales of £192m in the financial year ending September 2015. 

Jim Sumner, chairman of Andrew Page, said: “The strategic acquisition by LKQ recognises that Andrew Page is a strong business with a historic brand. 

“We are pleased at the completion of the sale, which brings the business and its employees into a global group with more than $6 billion in sales.

“The investment also highlights the continuing attractiveness of British businesses for foreign buyers.”

LKQ is buying substantially all of the assets and operations of Andrew Page, except for seven of the company’s 109 branches.

Mark Saunders, chief executive of Andrew Page, said: “This is a great deal for Andrew Page and its employees and puts us in a strong position for the future.

“We are looking forward to working with LKQ and Euro Car Parts at an exciting time for the motor parts sector, which is undergoing consolidation throughout Europe.”

Andrew Page made a number of significant investments in the last financial year, including £1m in a new state-of-the-art telephony system, continued upgrades to its van fleet and new infrastructure at its national distribution centre in Markham Vale. Andrew Page also acquired the Solid Auto brand and business in March 2016.

As part of the sale process, administrators from PwC were appointed to Andrew Page Limited, Solid Auto (UK) Limited and Colton Parts Company Limited on October 3 and immediately concluded a pre-packaged sale of the business and assets of each company to the purchaser.

 

We’ll bring you more news as it breaks.

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UPDATE: REPORT LINKS LKQ TO UNIPART AUTOMOTIVE ACQUISITION

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UPDATE: REPORT LINKS LKQ TO UNIPART AUTOMOTIVE ACQUISITION


A report in The Daily Telegraph suggests that struggling component supplier Unipart Automotive may be acquired by LKQ Corp – the US-based firm behind Euro

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Car Parts.

A spokesman at ECP declined to comment.

The newspaper also linked a possible rescue package with Better Capital – a business turnaround fund. Better Capital has been responsible for the buyout of the UK division of Reader’s Digest magazine and for obtaining Fairline Boats in 2011. However, he may be best known to CAT readers as the man behind Alchemy Partners’ unsuccessful bid to buy MG Rover in 2000. The company ultimately went to the Phoenix Consortium.

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