Factor giant Euro Car Parts has acquired the business of Team P R Reilly, a Dublin-based car parts, accessories and bodyshop business as well as Karkraft (N.I.) Ltd a paint and collision repair supply specialist. The deal expands ECPs operations across Ireland, following the acquisition of distributor Hella Ireland.
Terms of the deal were not disclosed, although the new owner announced that the 150 employees affected by the deal ‘will benefit from professional opportunities and training across LKQ Corporation’s global platform”. The senior management team from P R Reilly will remain in place.
Martin Gray, CEO of ECP said: “A strong track record, significant market expertise and a cultural approach so like our own, meant that the opportunity to work alongside (P R Reilly Owner) Norbert Reilly and the senior management team at Team P R Reilly was not to be missed. We immediately felt that we had the same goal in mind: to deliver exceptional customer service, keep the independent aftermarket competitive and support the industry in developing its own profile. Over the coming months, we will share best practices and take advantage of the opportunities to learn from one another across market sectors and distribution channels.”
Gray continued: “We are particularly excited about leveraging our global sourcing network to equip our customer partners with unparalleled choice of mechanical and collision parts, paint and specialist equipment.”
UK Chairman and LKQ Board Member, Sukhpal Singh Ahluwalia, added: “I’m delighted to welcome Team P R Reilly colleagues to the family and the next stage of the incredible Euro Car Parts journey. Team P R Reilly has a heritage stretching back more than 75 years and we have a duty to our customers, partners, employees and suppliers to ensure that we build relationships that will lead to sustainable and considerable growth. Everyone has a part to play in our ambitious growth plans and I look forward to working with the senior team to support their strategic direction and leadership.”