Andrew Page strengthens far east position
Andrew Page has positioned itself as the major distributor of Japanese and Korean car parts after acquiring Solid Auto (UK) for an undisclosed sum.
The acquisition of one of its key competitors will also strengthen Andrew Page’s sourcing capabilities in China and the far east.
Chairman Jim Sumner said, ‘We are very strong in American, UK and European marques. There is a very good growth opportunity for us in Japanese and Korean car parts and Solid Auto has established a very good reputation as a specialist supplier over the last three decades.
‘Our key brands are increasingly differentiated from what competitors are offering and acquiring Solid Auto drives that further. Our goal is to be the UK’s leading specialist Japanese and Korean car parts player.’
The acquisition continues an upward trend for the company. It’s just recorded a 12% increase in turnover to £192m in its first year since refinancing, and has invested £8m in a 500-strong fleet of new cars and £1m in a new telephony system.
Mark Price, managing director of Solid Auto, said, ‘I am confident there will be significant benefits across the group given our expertise in Far East sourcing and detailed understanding of the market. I believe there is a great cultural fit between Andrew Page and Solid Auto.’
