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Waters returns - and predicts trouble ahead

Former Lucas Service managing director Brian Waters is warning of trouble ahead in the aftermarket after more than two years of industry turmoil and company closures.

Waters, who worked with financial adviser Ernst & Young during the break-up and disposal of the Finelist Group, has returned to the sector as MD of Leeds-based vehicle components supplier Vegem.

His role at Vegem is to develop the firm's Autogem and Veco brands, both of which, he says, have weathered the aftermarket storm and are producing “respectable” results.

But he adds: “The market place has experienced significant meltdown and there's further consolidation to come. Current dynamics are still less than predictable but I believe the industry is in much better shape overall.”

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