Sukhpal Singh Ahluwalia

Last updated
Sukhpal Singh Ahluwalia
Sukhpal Singh Ahluwalia - headshot - 2019.jpg
Born
Sukhpal Singh Ahluwalia

October 1958 (age 65)
Kampala, Uganda
Nationality British-Indian
Occupation(s)Businessman and Entrepreneur
Known forFounder of Euro Car Parts
Non-Executive Chairman of Dominvs Group
SpouseRani Ahluwalia
Children3

Sukhpal Singh Ahluwalia (born October 1958) [1] is a British-Indian businessman and entrepreneur based in London.

Contents

He is the founder and Non-Executive Chairman of Dominvs Group, a real estate, hospitality and asset management company. [2] Ahluwalia also is founder and former Executive Chairman of car parts distributor Euro Car Parts. [3]

Early life

Born in Kampala, Uganda into an Indian Sikh family, Ahluwalia’s parents emigrated to the UK in 1972, when Ahluwalia was 13 years old, to escape persecution under Idi Amin. [4] When they arrived in the UK, the family spent a year in temporary shared accommodation. [4] [5]

As a teenager, Ahluwalia spent time in the markets of Petticoat Lane and Liverpool Street. [4]

Career

Euro Car Parts

Ahluwalia founded Euro Car Parts in 1978 after borrowing £5,000 from his father and bank loan to buy a car parts shop in Willesden, London. [4] The shop, originally called Highway Autos, was renamed Euro Car Parts a year later. [4]

In 1981, Ahluwalia opened a second branch of the company in the Willesden area. The company originally supplied car parts for BMW, Mercedes, Porsche and VW vehicles. The company expanded to become a leading supplier of parts, paints and equipment for cars and light commercial vehicles in the UK. [6]

By 2011, Euro Car Parts employed 3,500 people across 89 locations. [5] In October 2011, Ahluwalia sold Euro Car Parts to LKQ Corporation for £280 million, with a supplementary £55 million if targets were met. [7] [8] [3] After the sale, Ahluwalia became Executive Chairman of LKQ Corporation's businesses in the UK, Ireland and India, [9] but stepped down from the board in December 2018. [10]

Personal life

He is married to Rani Ahluwalia and they have three sons who are also involved in the businesses. [11]

As of May 2018, Ahluwalia is the fourth richest refugee in the UK. [12] According to The Sunday Times Rich List 2019, the Ahluwalia family have a net worth of £500 million. [13]

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References

  1. ↑ "Sukhpal AHLUWALIA - Personal Appointments (free information from Companies House)". beta.companieshouse.gov.uk. Retrieved 2018-03-02.
  2. ↑ "UK Indian billionaires". The Financial Express. Retrieved 2018-03-02.
  3. 1 2 Osborne, Alistair (2011-10-05). "Sukhpal Singh Ahluwalia sells Euro Car Parts for £225m after starting it with £5,000". The Telegraph. ISSN   0307-1235 . Retrieved 2018-05-21.
  4. 1 2 3 4 5 Osborne, Alistair (2014-04-21). "Asian entrepreneur moves on from the Euro Car Parts group he founded". The Telegraph. ISSN   0307-1235 . Retrieved 2018-03-02.
  5. 1 2 Kirby, Arthur. "How a refugee created 3,500 jobs in Britain". CNNMoney. Retrieved 2018-03-02.
  6. ↑ "Sukhpal Singh Ahluwalia sells Euro Car Parts for £225m after starting it with £5,000". The Telegraph. 5 October 2011. Retrieved 2020-09-18.
  7. ↑ "LKQ Corporation Appoints Sukhpal Singh Ahluwalia To Its Board Of Directors". investor.lkqcorp.com. Retrieved 2018-03-02.
  8. ↑ "Euro Car Parts sold to LKQ for £225m". Financial Times. 4 October 2011. Retrieved 2018-03-02.
  9. ↑ "LKQ Corporation Announces Director Resignation". investor.lkqcorp.com. Retrieved 2020-09-18.
  10. ↑ "Jobs axe hangs over car parts distributor as top team quits".
  11. ↑ "Sukhpal Singh Ahluwalia — Official Biography". The Entrepreneurs Network. Retrieved 2020-09-18.
  12. ↑ List, Robert Watts, Compiler of the Rich (2018-05-06). "Penniless refugees flee war to land on Rich List with £6bn". The Sunday Times. ISSN   0956-1382 . Retrieved 2018-05-21.{{cite news}}: CS1 maint: multiple names: authors list (link)
  13. ↑ Times, The Sunday (2019-05-12). "Rich List 2019: profiles 251-298=". The Times . ISSN   0140-0460 . Retrieved 2019-05-28.
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