ACM Parts has bought Frank’s Auto Parts, a full-service vehicle salvage business in NSW, with sites at Smithfield in Sydney’s west, and Queanbeyan, outside Canberra.
ACM Parts’ interim CEO, Stephen Marshall, said the acquisition of Frank’s Auto Parts is a significant operational milestone for the business.
“This acquisition is the first step in our recycled parts strategy and over the next few months we will continue to investigate other opportunities across Australia.
“With over 40 years in the industry and a long association with the Auto Parts Recyclers Association of Australia (APRAA), Frank’s Auto Parts is a recognised leader and committed to high quality parts and environmental standards.
“It will be business as usual for Frank’s Auto Parts customers, while we will look to invest further in this business to grow its operations and employment base.
“ACM Parts is also focused on the establishment of rigorous parts certification systems and procedures that will be a hallmark of this business and we will be announcing our plans in this area soon. We want to build a business that offers repairers a better service and improves customer outcomes, especially in relation to repair turnaround times,” said Marshall.
The agreement was signed on 3 March. Ownership is expected to formally commence on 17 March.
Formed in August 2013, ACM Parts is a joint venture between Suncorp Group and LKQ Corporation, a North American based global leader in the provision of recycled, aftermarket and reconditioned automotive parts.