User:Daniela LKQ Europe/sandbox



LKQ Europe

LKQ Europe, a subsidiary of LKQ Corporation located in Chicago, is a distributor of parts for cars, commercial vans and industrial vehicles in Europe. The company currently employs around 27,000 people in over 20 European countries with a network of more than 1,000 branches. In 2019, LKQ Europe generated revenue of more than $5.8 billion USD. The group is represented by Euro Car Parts, Fource, RHIAG Group, Elit, Auto Kelly, STAHLGRUBER Group and the recycling specialist, Atracco. LKQ also holds a minority interest in Mekonomen.

Management

On October 1, 2019, Arnd Franz became CEO of LKQ Europe. He previously held management positions at MAHLE, most recently as Corporate Executive Vice President and Member of the Management Board. He succeeded John Quinn, who announced his retirement.

History

LKQ entered the European market in 2011. In its first year of European operations, the company acquired Euro Car Parts, a leading car parts and accessories distributor in the UK and Ireland. In 2013, Sator (now Fource) joined LKQ with subsidiaries in the Benelux countries and France, followed by Atracco in 2014, a distributor in the Nordics. In 2016, LKQ Europe took over RHIAG Group and its subsidiaries, Elit and Auto Kelly, in Central and Eastern Europe. At the same time, LKQ Europe acquired a 26.5 percent stake in Scandinavian car parts dealer, Mekonomen. With the acquisition of STAHLGRUBER Group and its subsidiary, PV Automotive, in 2018, LKQ Europe added the market leaders in Germany and Austria to its group. Through these acquisitions, LKQ Europe has positioned itself as the most important European spare parts supplier.

Business model

LKQ Europe and its group of companies operate more than 1,000 branches in Europe, each with a parts warehouse. Depending on their size, the warehouses keep up to 50,000 different parts in stock. This helps LKQ Europe cover more than 90% of its customers’ immediate needs on the same day. Through a strong logistics network, LKQ Europe also supplies workshops with rare parts, usually within 24 hours of an incoming order. LKQ Europe’s portfolio includes parts from product groups such as chassis, engines, electronics, and bodywork, and supports selected partners with workshop concepts, including marketing materials and tools, to ensure high-quality process and customer service to support their sales.

Name

LKQ is a technical term from the American automobile insurance industry. LKQ is an acronym which stands for “Like Kind and Quality”. This means that the cost of spare parts should be in reasonable proportion to the residual value of the vehicle.

Weblinks

Website of LKQ Corporation: www.lkqcorp.com