A commercial vehicle parts distributor has been sold. Sukhpal Singh Ahluwalia has offloaded his majority shareholding in Nottinghamshire-based Digraph to LKQ Corporation following a national rollout of the business.
The acquisition of the company by US group LKQ Corporation for an undisclosed sum brings to an end a six-year relationship for Mr Ahluwalia when he became the firm’s majority owner.
The expansion of the business has been paired with strategic investments in delivery speeds, customer service and an increase in its product range.
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Over recent years, Digraph also introduced mezzanine floors in a number of its existing branches to increase stock capacity.
Specialising in HGV, coach and bus parts, Digraph was originally founded in 1976 from a single portakabin in Derbyshire.
It now operates more than 20 warehouses across the 海角视频, with in excess of 300,000 deliveries to more than 4,000 customers annually.
The deal marks Mr Ahluwalia's most recent successful exit from a business in the 海角视频 autoparts industry.
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In 1978, he founded car parts retailer Euro Car Parts from a single store before growing it into one of the largest car parts distributors in Europe. The business was sold to LKQ Corporation in 2011 for £280 million.
He said: "When I first looked closely at the Digraph business five years ago, I was immediately struck by its huge growth potential.
“The business had solid fundamentals with a loyal customer base and a strong brand, which made it a perfect business for an ambitious and aggressive rollout.
"At the time, there was a desperate need for a new national retailer of commercial vehicles parts across the 海角视频 that could offer customers a better range of parts at a more competitive price point.
"That is what we have achieved over the last 5 years, with the business now serving more customers than ever before."