GP Automotive, which has an annual turnover in excess of £7m, has acquired the assets and stock of the Veco brand including braking, steering and suspension, clutches, water pumps, cables, wheel bearings and hoses. Its annual turnover is approximately £2m.
GP Automotive has written to existing Veco customers notifying them of the change of ownership.
Managing director Graham Trevitt says: “In the short term, it is our aim to restore availability to a high level and, in the long term, we plan to invest considerable time and resources into developing the Veco brand and supporting its loyal customer base.”
Trevitt has promised to greatly improve product availability through “significant investment in additional stocks, particularly of fast moving/popular items.”
The company says the addition of the Veco brand strengthens its proposal as a ‘one-stop shop’ operation, supplying motor factors and accessory retailers with all their component requirements.