Suncorp Group has taken full ownership of the ACM Parts joint venture after purchasing joint venture partner LKQ Corporation’s stake in the business.
James Knox, Executive General Manager of Motor Claims and Suncorp Insurance Ventures, said LKQ Corporation has been pivotal to creating a successful foundation for ACM Parts in Australia, and will continue to have a strong working relationship with the business.
“ACM Parts now operates eight sites nationally, with a team of 160 people selling more than 4500 automotive products. It has established Australia’s first aftermarket certification program (NSF) and is delivering an outstanding service selling high-quality, cost-effective automotive parts.
“The new ownership structure maintains Suncorp’s long term strategy to provide customers with market-leading motor insurance products by reducing vehicle repair costs and turnaround times.
“Key strategic alliances between Suncorp and LKQ will remain in place, particularly those relating to aftermarket product sourcing and technology. The business will continue to help us minimise parts costs inflation and understand more deeply cost and industry supply issues.
“ACM Parts will continue to expand its business and deliver an outstanding service to the motor industry and consumers,” Knox said.