National motor factor GSF Car Parts has announced the appointment of Sukhpal Ahluwalia as Executive Chairman and Steve Horne as Chief Executive Officer. The Ahluwalia Family Office has also co-invested in GSF Car Parts alongside private equity firm Epiris.
The parts supplier operates 180 branches across the UK and Ireland, supplying thousands of independent garages, national chains and retail customers with high quality parts, specialist training, tools and equipment.
International law firm Osborne Clarke advised the Ahluwalia Family Office and Steve Horne on the appointments and on the investment. The corporate team was led by partner Pippa Byrne and included associate director Leanne Wright.
The co-investment in GSF Car parts by Ahluwalia Family Office marks Sukhpal’s return to the car afterparts market. Having founded Euro Car Parts in 1978, Sukhpal scaled ECP from a single car accessories store in London into the largest car parts distributor and retailer in the UK, with 260 branches nationwide and annual sales of over £1.2 billion.
The appointments reunite Sukhpal Ahluwalia and Steve Horne, who previously worked together at Euro Car Parts. The team plans to add a significant number of new branches to the business over the coming years, improve the branch experience, strengthen its e-commerce offering, invest in its catalogue and IT, and rejuvenate its delivery fleet. The business will also stake out its leadership on sustainability by extending its range of products for electric vehicles, as well as investing in new technology to reduce the company’s own emissions and energy footprint.
Osborne Clarke’s corporate and private equity team is a go-to practice for companies working in a range of sectors including retail and consumer and mobility and infrastructure. It works with clients ranging from global businesses to fast-growth start-ups and market challengers. The team advises at every stage of company development across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.