ARE had previously gone into administration and ECP says it wanted to ensure continuity for staff and customers through making the purchase.
The new business brings 13 branches servicing cars, light and heavy commercial vehicles in repair workshops throughout Surrey and south London to ECP.
The firm already has 40 sites, five of which opened this year. It hopes that this growth will see its turnover increase to over £100m, up from £75m in 2005.
A spokesman for ECP told AM: “ARE, which had a turnover of £13m before we took it over, will now trade as ARE – Euro in the short to medium term. But after a comfortable period of time this will change to Euro Car Parts.”
ARE was originally co-founded by Tony and Pat East in 1973, who will stay on to work for the business on a consulting basis.
“The East family created an excellent business. ECP is proud to be able to expand the product range for ARE – Euro to encompass immediate availability for more than 60,000 parts for all car and commercial vehicle makes,” says Sukhpal Singh, founder and managing director of ECP.
All of ARE’s assets and 180 members of staff have been transferred to ECP as part of the transaction.
“The workers will remain in their jobs and continue to do the work they did,” says a spokesman.