Swedish company LBM Autoparts says its purchase of Bristol-based GB Parts Online marks a major step in its European acquisition strategy.
The UK company previously supplied LBM and has a range of 350 spare part kits and nearly 5,000 products. Erik Stålebo, CEO of LBM, says: “The company’s investment in complete kits has been successful. In combination with fast deliveries, e-commerce and highly competitive prices, this is an important success factor.” The companies will continue to operate under separate brands but Stålebo sees it as a chance to “increase our rate of expansion and invest in the central European market.” He says it will also be possible to “develop GB Parts Online further”, expanding to new markets and new groups of customers.
LBM is part of STS Group, and Stålebo says further expansion will take place in other countries “most likely also through acquisitions, but chiefly through organic growth, in the next few years”. In total, the firms now offer close to 10,000 spare parts and some 400 complete kits.