Euro Car Parts founder agrees fresh three-year deal as executive chairman with parent company

Euro Car Parts founder agrees fresh three-year deal as executive chairman with parent company

EURO Car Parts founder Sukhpal Singh Ahluwalia is extending his contract with the business for three years as executive chairman of parent company LKQ’s operations in the UK and Republic of Ireland.

Martin Gray, chief executive of Euro Car Parts, which was established in 1978, said: ‘It’s been a landmark three years for ECP, and Sukhpal has again played the pivotal role in helping to drive the business forward.

‘Over that time, we’ve seen a number of acquisitions, as well as the continuing growth of the core business. On top of that, our branches across the UK are now starting to see the significance of our investment in the new T2 national distribution centre at Tamworth, which is helping them further to deliver a market-leading service to our customers.

‘Sukhpal is an inspirational leader and mentor, and without doubt one of the most successful entrepreneurs of our generation. With the next few years seeing an unprecedented amount of challenge and change for the aftermarket, it’s fantastic news that we will continue to benefit from Sukhpal’s tenacity, experience and commercial acumen, helping us to maximise opportunities for our customers.’

Ahluwalia, pictured, who is also a member of LKQ Corporation’s board of directors, said: ‘Euro Car Parts is nothing without its customers, employees and suppliers, both long-standing and recent. Many of those relationships go back decades and it is a privilege to see them continue. I look forward to another exciting three years with the company, as we strive to offer a groundbreaking, innovative service to our client base.’

LKQ bought Euro Car Parts in 2011 for an initial price of £225 million, with the figure increasing by up to £55m if Euro Car Parts met certain growth targets in 2012 and 2013.

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