Fst expanding Euro Car Parts owner LKQ Corporation has bought Uni-Select Inc and its 180 UK GSF Car Parts outlets.
LKQ entered the UK market in 2011 with the purchase of Euro Car Parts from its founder Sukhpal Singh Ahluwalia for £225m plus £50m bonus target.
Two years later LKQ bought Sator Holdings from H2 Equity partners for £176m. Sator Holdings is the largest importer and distributor of spare parts for the automotive aftermarket in Benelux and Northern France.
The same year it bought refinish marketing firm Iris Coatings and five paint distributors for an undisclosed sum.
And in 2016 it acquired parts distributor Andrew Page and its 102 factor outlets, national distribution centre and head office in Leeds. The CMA intervened and forced Euro Car Parts to sell nine Andrew Page outlets.
“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.”
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.
“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.”