LKQ Buys Andrew Page
US group LKQ Corporation, the owner of EuroCar Parts in the UK, has bought UK auto parts distributor Andrew Page.
LKQ is acquiring most of the assets and operations of Andrew Page, other than seven of the Leeds firm’s 109branches. Robert L. Wagman, LKQ president and CEO, insists that “customers will benefit from an extended range of products”. Jim Sumner, chairman of Andrew Page, says: “We are pleased at the completion of the sale, which brings the business and its employees into a global group with more than $8 billion in sales.” Sumner will stand down after the transaction is completed.
Andrew Page had sales of £192million last year and has over 2,000 full-time and part-time staff. Chief executive Mark Saunder adds: “This is a great deal for Andrew Page and its employees and puts us in a strong position for the future. We are looking forward to working with LKQ at an exciting time for the motor parts sector, which is undergoing consolidation throughout Europe.” Andrew Page’s interest in the reman sector includes deals earlier this year to become a supplier of TRW single shock absorbers and Hoffman turbochargers through Autocharge UK.
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