The largest aftermarket car parts distributor in the UK, Euro Car Parts, has been sold to US company LKQ for £225m.

The deal is expected to have some major future implications for aftermarket parts supply across Europe. LKQ sees the move as a significant step in achieving its ambition of becoming a major player in the European parts market.

The US company specialises in refurbishing scrap car parts as well as selling new ones. Robert Wagman, president of LKQ believes that the deal will also create a significant opportunity to benefit from a gap in the market for refurbished car parts in Europe.

Bosses of the US firm told investors in a web conference that growing Euro Car Parts crash repair parts business would be the number one priority. Wagman said that at the moment less than 10% of crash repairs use aftermarket parts in the UK, compared with 37% in the US. Forging close links with insurances companies is said to be a key element in the growth plans.