Leicestershire car parts business revs up with acquisition

A leading car parts retailer has acquired a competitor in a multi-million pound deal.

Based in Leicestershire, Parker Motor Services has snapped up A E Cook, which has outlets throughout Yorkshire and Lincolnshire. The combined business will see turnover increase to £27m and employ 350 people.

Parkers was founded in 1924 and has over 90 years’ experience of supplying original equipment quality replacement car parts and supplies spares for all makes and model of car.

Managing director of Parker Motor Services, Robin Parker, said: “This latest acquisition fits perfectly with the current Parkers geographic locations and was a deal that suited both parties. Over the coming years we hope to grow market share with these additional branches and further strengthen our position in the UK automotive market. ”

Financial support was provided by Barclays. Richard Parker, relationship director for Barclays in Leicestershire said: “Parkers have a long history in the industry and a great reputation. The two businesses complement each other and will enable them to increase their market share. This forms part of our overall growth ambition plan and I am therefore delighted we have been able to support them with this acquisition.”

Keith Ross, corporate director at Barclays, added: “We have a long and successful relationship with Parker Motor Services and we are really pleased to have supported the most recent acquisition. This provides the company with an enlarged regional geographical footprint, as well as benefitting from operating efficiencies, as a consequence of the increase in scale.”