LKQ Corporation, the parent company of Euro Car Parts, have announced that they have entered into a definitive agreement with Uni-Select Inc, the parent company of GSF Car Parts, to acquire all of Uni-Select’s issued and outstanding shares, for a total value of 2.8 billion Canadian dollars. 

Uni-Select is a leader in the distribution of automotive refinish and industrial coatings and related products in North America, through its FinishMaster segment, in the automotive aftermarket parts business in Canada through its Canadian Automotive Group segment and in the U.K. through its GSF Car Parts segment. It currently has 5,200 employees, 15 distribution centres and 400+ branches, across the United States, Canada, and the U.K.

Dominick Zarcone, President and Chief Executive Officer of LKQ Corporation said, “This acquisition further enhances LKQ’s global automotive vehicle parts distribution business. Uni-Select’s North American automotive refinish paint and mechanical parts distribution operations complement LKQ’s existing footprint and will allow us to distribute a broader array of products to our customers. We look forward to welcoming Uni-Select’s employees to the LKQ team.”

In the UK, Uni-Select, through GSF Car Parts, is a major distributor of automotive parts supporting over 20,000 customer accounts with over 180 branches. 

Anticipated regulatory measures mean that LKQ will have to divest the GSF Car Parts business. This will mean that GSF will continue to function as a fully independent entity until this process is complete. 

GSF Car Parts President and COO Sukhbir Kapoor said, “We are a strong and healthy business, optimistic about the eventual outcome of the divestment process, given the strength of GSF and the talent of our 2,500 people across the UK. There is no material change to the day-to-day business of GSF Car Parts because of Uni-Select’s announcement, so our network of 180 branches and our growing online retail service remains open for business as usual.”