News 15 www.aftermarketonline.net JUNE 2024 In association with 4.9 Trusted by over 2500+ workshops in the United Kingdom Search your part here WWW.ACTRONICS.CO.UK 01206 849920 REMANUFACTURING MAKES SENSE WHY DISCARD FAULTY ELECTRONIC CAR COMPONENTS WHEN YOU CAN GIVE THEM A NEW LEASE ON LIFE? Reliable Sustainable ŽƐƚ ĞīĞĐƟǀĞ Two Years Warranty YƵĂůŝƚLJ ƌĞŵĂŶƵĨĂĐƚƵƌŝŶŐ *URXS VHW IRU JURZWK DV ᎮUP DQQRXQFHV takeover of Inchcape’s UK retail business Inchcape has said a deal to sell off its UK retail business to the UK arm of US-based Group 1 Automotive for around £346 million will complete its transformation into a pureplay distribution business. London-based global automotive distributor Inchcape announced on April 15 it had agreed to sell the business unit to Group 1 Automotive UK. Group 1 president and CEO Daryl Kenningham (pictured) said the acquisition would help the group expand into new markets in the central and north-west regions of England and Wales. Inchcape’s group chief executive Duncan Tait said in a trading update on April 25 the road ahead for the group following the sale — expected to close in the third quarter of this year — is to become “capital light, highly cash generative, higher margin and globally diversified”. In fiscal 2023, Inchcape’s UK retail operations generated revenue of more than £2m. The unit employs around 3,600 across more than 80 sites in the UK with 12 OEM partners. The group has operated in the UK since 2007, with the majority of its existing 55 dealerships in the UK based in the south-east and east of England. Through its dealerships and omnichannel platform the company’s activities include selling vehicle parts, new and used cars and light trucks and providing automotive maintenance and repair services.
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