Further to the news announced earlier this afternoon that LKQ Corporation is to acquire Uni-Select, the parent company of GSF Car Parts, Sukhbir Kapoor has released a statement.
GSF Car Parts President and COO Sukhbir Kapoor said: “We are a strong and healthy business, optimistic about the eventual outcome of the divestment process, given the strength of GSF and the talent of our 2,500 people across the UK.
Sukhbir Kapoor
“There is no material change to the day-to-day business of GSF Car Parts because of Uni-Select’s announcement, so our network of 180 branches and our growing online retail service remains open for business as usual.
“Everyone at GSF Car Parts remains committed to driving value and delivering the excellent service to our customers on which the business has built its strong reputation.”
Uni-Select and GSF will continue to operate as independent companies until the completion of the transaction.
LKQ will undertake a process to divest GSF Car Parts due to anticipated regulatory measures; therefore, the operations of GSF will remain entirely separate from those of LKQ and GSF will continue to enjoy the support of Uni-Select until the divestment is complete.
Uni-Select Executive Chair and CEO Brian McManus said: “We are extremely grateful for the efforts of the GSF team for the integral part they have played in the success of Uni-Select and its substantial growth since 2017.
“The passion, commitment and quality of our GSF colleagues has shone through time and again, and we will support the team during the divestment process to ensure they continue their excellent progress.”
Published by Greg Whitaker
Editor of CAT Magazine and an experienced motoring journalist @GregWhitaker5
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This is huge for the UK aftermarket, yet the industry remains silent on the matter. It was posted on Linkedin but hardly any comments.
Surely they won’t sell to anyone that presents a competitive challenge? Will the monopoly commission even be involved? At some point the ECP boys will start lording it over GSF, selling off or closing certain branches, keeping those that make money – like Andrew Page.
What do the national garage chains make of it? Now they really only have ECP or AAG to choose from.
Just been speaking to my local garage. Very worried by this development as he can’t stand ECP and doesn’t like using them. His local GSF manager said “the last three years here have been really tough, lord knows what will happen now”. Our industry seems very quite on this matter?
‘Divested’ – company speak for ‘get rid of’. How does this work? will they really sell it to someone who then remains as a competitive threat ? Who would / could buy it? Sukhpal? (now we know why Sukhbir was appointed) Tetrosyl? Motus?
The UK has a dismal history of national motor factors – never really managed to sustain a single one over any period of time – they have all failed. We now have three or four competing for that spot. All with the same old business model really. Hundreds of depots, a big expensive warehouse, no real talented buyers / decision makers. Fighting on price over the same brands, all chasing national garage accounts at crap margin, undermining garages by internet sales, garage equipment magazines that all look and feel the same, going straight in the bin. Nobody on the sales side that is bothered by a growing number of independent garages that hate buying from ECP or GSF. Telling their American masters that they have a “robust business with a strong & growing online presence while increasingly getting hammered on service by terrific independents. You have to feel for the good people at GSF, I’m told they have endured a “right load of crap” over the last few years, now to have this uncertainty.
This is huge for the UK aftermarket, yet the industry remains silent on the matter. It was posted on Linkedin but hardly any comments.
Surely they won’t sell to anyone that presents a competitive challenge? Will the monopoly commission even be involved? At some point the ECP boys will start lording it over GSF, selling off or closing certain branches, keeping those that make money – like Andrew Page.
What do the national garage chains make of it? Now they really only have ECP or AAG to choose from.
Just been speaking to my local garage. Very worried by this development as he can’t stand ECP and doesn’t like using them. His local GSF manager said “the last three years here have been really tough, lord knows what will happen now”. Our industry seems very quite on this matter?
‘Divested’ – company speak for ‘get rid of’. How does this work? will they really sell it to someone who then remains as a competitive threat ? Who would / could buy it? Sukhpal? (now we know why Sukhbir was appointed) Tetrosyl? Motus?
The UK has a dismal history of national motor factors – never really managed to sustain a single one over any period of time – they have all failed. We now have three or four competing for that spot. All with the same old business model really. Hundreds of depots, a big expensive warehouse, no real talented buyers / decision makers. Fighting on price over the same brands, all chasing national garage accounts at crap margin, undermining garages by internet sales, garage equipment magazines that all look and feel the same, going straight in the bin. Nobody on the sales side that is bothered by a growing number of independent garages that hate buying from ECP or GSF. Telling their American masters that they have a “robust business with a strong & growing online presence while increasingly getting hammered on service by terrific independents. You have to feel for the good people at GSF, I’m told they have endured a “right load of crap” over the last few years, now to have this uncertainty.