The factor believes the acquisition will strengthen its sourcing capability in China and the Far East. Chairman Jim Sumner said, “Birmingham-based Solid Auto has established a very good reputation as a specialist supplier over the last three decades”.
Mark Price, MD of Solid Auto said: “I am confident there will be significant benefits across the group given our expertise in Far East sourcing and detailed understanding of the market.”
“I believe there is a great cultural fit between Andrew Page and Solid Auto.”
Japanese and Korean cars make up around 20 per cent of the UK car market. Sumner added: “We are actively pursuing a differentiation strategy. Our key brands are increasingly differentiated from what competitors are offering and acquiring Solid Auto drives that further. Our goal is to be the UK’s leading specialist Japanese and Korean car parts player.”