Euro Car Parts Buys LSUK
Euro Car Parts has acquired the businesses of Pinco 1555 Ltd, otherwise known as LSUK. Euro Car Parts will take over all 53 LSUK Branches, together with subsidiaries M I Diesel Products, Protech Automotive (UK) and Yeovil Rewind. Chairman, Sukhpal Singh commented on the acquisition: “Euro Car Parts has proved its ability to grow organically in difficult times. The purchase of LSUK will further accelerate our expansion and support our quest to provide the ultimate in quality and service to the automotive aftermarket.”
He added: “Previous acquisitions by Euro Car Parts have shown our willingness to invest in the staff and fabric of companies, so as to bring them up to the same market-leading standards that have gained Euro Car Parts many awards for customer service throughout the industry.”
LSUK Divisional Director, Shaun Darke, who spearheaded the LSUK team forming this new partnership said: “As far as I was concerned, despite several parties showing a real interest in LSUK, the company that stood head and shoulders above the rest was Euro Car Parts. As a demonstration of their commitment and focus on the acquisition of LSUK, they called in over 30 ECP directors, senior managers and advisers. Everything necessary was actioned over the weekend and the entire acquisition process took no more than 48 hours.”
On the evening of Monday 29 September all customers, suppliers and staff of both organisations were informed of the acquisition by way of letters, releases, emails and company intranet systems. There were also several staff meetings and these will continue throughout the coming weeks.
This new relationship is further enhanced by Euro Car Parts’ recent membership of the major European buying group ATR International AG (ATR), of which it became an equal shareholder earlier this year. Euro Car Parts Director David Bevan said, “ATR membership has proved a great opportunity for Euro Car Parts and now LSUK will also enjoy these significant benefits. Partnership with some of the biggest and most influential parts distributors across Europe, within ATR, will further strengthen its purchasing position with both existing and new suppliers, such as ATE, Robert Bosch, Contitech, Sachs ZF, Siemens VDO and many others. This can only be of benefit to LSUK’s customers.”