Tag Archive | "sukhpal"

BREAKING: LKQ CONFIRM SUKHPAL RESIGNATION

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BREAKING: LKQ CONFIRM SUKHPAL RESIGNATION


LKQ Corp, the owner of Euro Car Parts has confirmed that it has accepted the resignation of Executive Chairman Sukhpal Singh Ahluwalia.

The founder of ECP, known simply by his first name to all in the business, sold the company to the US-based parts giant in 2011, remaining as an Executive Director.

The conformation follows reports that Sukhpal, Martin Gray, Steve Horne and other senior management walked out of ECP last week over the subject of proposed cuts by LKQ.

READ: ANDY HAMILTON SUCCEEDS MARTIN GRAY AS EURO CAR PARTS’ CEO 

Sukhpal commented, “ECP has been my life’s work and there will always be a bit of the company in me. I have enjoyed my relationship with LKQ but the time has come for a change so I can devote my full abilities to building the property business with my sons. I am confident in the strategy LKQ has for its European segment and for the next level of growth and operational excellence at ECP.”

Dominick Zarcone, President and Chief Executive Officer of LKQ Corporation, stated, “Sukhpal has been a key partner with LKQ over the past seven years as we have quadrupled the size of our business in the U.K., and he has served as a valued LKQ board member. While we will miss his insights, we respect his desire to spend all his time focused on the family property business and wish him nothing but the best in those endeavours.”

READ: BOARD WALKOUT AT EURO CAR PARTS

Sukhpal has resigned from the company he founded in 1979

This is not the first time that Sukhpal has left ECP while under LKQ ownership. However, he left in 2014 amid rumours that he had fallen out with the parent company and was planning to start a new factor chain to be called APX. These rumours took on substance when a recruitment advert appeared in CAT. Shortly after Sukhpal and several dozen other former Euro Car Parts’ employees agreed to return to ECP under new terms.

 

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DIGRAPH ACQUIRES EUROPART OLDBURY

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DIGRAPH ACQUIRES EUROPART OLDBURY


The Oldbury branch of German truck factor and garage equipment supplier Europart has been acquired by rival factor Digraph. Terms of the deal have not been disclosed, though the existing team will remain and the business will be renamed and rebranded in the Digraph style.

Sukhbir Kapoor, Chief Executive Officer at Digraph, commented: “Europart has a strong national presence as well as a traditional, local customer base. The acquisition enables us to provide customers nationwide with an even quicker, more efficient response from our branches as we continue to build on Digraph’s reputation for exemplary service. We are planning further investments and additions to our branch network as we continue to shake up the commercial vehicle sector.”

Europart has no previous connection with the similarly-named Euro Car Parts, although Digraph received significant investment from Sukhpal Singh Ahluwalia, founder and Executive Chairman of Euro Car Parts in September 2017.

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DIGRAPH TO OPEN 16 NEW SITES

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DIGRAPH TO OPEN 16 NEW SITES


CV factor Digraph is set to open 16 new branches in the next six months as part of a growth strategy described as ‘aggressive’. This will be in addition to several acquisitions of similar businesses and expansion of existing branches.

The move follows significant investment in the company by Euro Car Parts as well as Sukhpal Singh Ahluwalia and James Rawson. The expansion could create and create 164 jobs.

The new outlets are in various locations across the UK, stretching from Glasgow to Crawley. At this point it is unconfirmed if the new locations will be from LKQ’s existing portfolio, newly acquired sites, or a mix of the two.

The strategy doesn’t seem to phase the management team.  Sukhpal Singh Ahluwalia commented: “Locations, stock and logistics are relatively straightforward – indeed we once opened 12 Euro Car Parts branches in a single day. Our challenge is to find the right people and partners to join us in delivering our vision of market-leading customer service … nationwide. We are building our new branches around the best team players”.

“We are shaking up the industry in other ways too, with major investment in stock ranges, accelerated delivery speeds and added-value programmes, as we continue to build the UK’s most powerful team.”

Branch expansions and upgrades are happening in Gloucester, Northampton, Nuneaton and Stoke. The Northwich branch is relocating to larger premises in Ellesmere Port which will greatly increase stock holding and give improved deliveries to the customer base.

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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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