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- SectorBusiness Services
- ActivityAutomotive parts
- Date02 July 2013
- CountryUSA - Netherlands
U.S. stock listed Sator-LKQ Corporation acquires Kühne Automotive
Kühne Automotive imports and distributes a wide range of car parts that are supplied to garages exclusively through the wholesale sector (car parts wholesalers). Kühne Automotive is a leading player in the replacement parts market for cars. This position has been achieved, amongst others, by investing in a broad product range. In addition, the quality of products and services is a pre-requisite when selecting suppliers. Kühne Automotive only represents parts manufacturers who supply top quality products.
LKQ is a successful supplier of recycled, aftermarket, and reconditioned car and truck parts and heavy-duty truckparts in the North-American aftermarket. In October 2011 LKQ Corporation acquired the British company Euro CarParts for 225 million pounds upfront and an earn-out of 55 million pounds, depending on the results of the company in 2012 and 2013. LKQ largely invested in the expansion of the British company, including the opening of 42 branches and a warehouse for car parts. Within the past sixteen years LKQ Corporation acquired over one-hundred and- sixty companies. In May 2013 LKQ acquired Sator for $268 million.
The agreement was a consequence of the industry tendency of consolidation and internationalization. With the acquisition, USA stock listed LKQ Corporation makes another important step forward.
“Within the past sixteen years LKQ Corporation acquired over one-hundred-and-sixty companies. In May 2013 LKQ acquired Sator Holding for $268 million and two months later Kühne Automotive. The European distribution market for car parts is characterized by further increasing of scale. It is generally expected that this tendency will go on coming years. The acquisition of Kühne Automotive fits well in our growth strategy, national as well as international. Kühne Automotive has a comparable business model as Sator Holding, the car parts wholesalers are the linking pins within the aftermarket. Besides Kühne Automotive has a rich history, well-known brands and an experienced team of employees with valuable market and product knowledge. Especially the diesel specialism is an important acquisition to the group”, says Adriaan Roggeveen, CEO of Sator Holding and board member of LKQ Corporation.
Both Sator-LKQ Corporation and Kühne Automotive observe further internationalization and scale. Kühne Automotive is shareholder of ATR Company (Auto Teile Ring). The ATR Company is one of the biggest and most successful trade cooperations of leading distributors of the independent automotive parts market worldwide. Auto-Teile-Ring, ATR International AG and ATR SERVICE GmbH are united under the umbrella of the company, resident in Stuttgart. The shares held by Kühne Automotive are part of the transaction.
Dinno van Breugel, CEO of Kühne Automotive and chairman of RAI Vereniging, division Autovak: “This is an important and valuable step in Kühne Automotive’s history. The acquisition by Sator-LKQ Corporation fits well in the tendency of internationalization and increasing of scale. Although the decision to sell the company was an emotional one, the shareholders of Kühne Automotive unanimously decided to make this rational step forward”.
For more information: LKQ Corporation