Sukhpal Singh Ahluwalia
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Sukhpal Singh Ahluwalia | |
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| Born | Sukhpal Singh Ahluwalia October 1958 (age 66) |
| Nationality | British-Indian |
| Occupation(s) | Businessman and Entrepreneur |
| Known for | Founder of Euro Car Parts Non-Executive Chairman of Dominvs Group |
| Spouse | Rani Ahluwalia |
| Children | 3 |
Sukhpal Singh Ahluwalia (born October 1958)[1] is a British-Indian businessman and entrepreneur based in London.
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
[edit]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
[edit]Euro Car Parts
[edit]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
[edit]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]
References
[edit]- ^ "Sukhpal AHLUWALIA - Personal Appointments (free information from Companies House)". beta.companieshouse.gov.uk. Retrieved 2018-03-02.
- ^ "UK Indian billionaires". The Financial Express. Retrieved 2018-03-02.
- ^ a b 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.
- ^ a b c d e 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.
- ^ a b Kirby, Arthur. "How a refugee created 3,500 jobs in Britain". CNNMoney. Retrieved 2018-03-02.
- ^ "Sukhpal Singh Ahluwalia sells Euro Car Parts for £225m after starting it with £5,000". The Telegraph. 5 October 2011. Retrieved 2020-09-18.
- ^ "LKQ Corporation Appoints Sukhpal Singh Ahluwalia To Its Board Of Directors". investor.lkqcorp.com. Retrieved 2018-03-02.
- ^ "Euro Car Parts sold to LKQ for £225m". Financial Times. 4 October 2011. Retrieved 2018-03-02.
- ^ "LKQ Corporation Announces Director Resignation". investor.lkqcorp.com. Retrieved 2020-09-18.
- ^ "Jobs axe hangs over car parts distributor as top team quits".
- ^ "Sukhpal Singh Ahluwalia — Official Biography". The Entrepreneurs Network. Retrieved 2020-09-18.
- ^ 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) - ^ Times, The Sunday (2019-05-12). "Rich List 2019: profiles 251-298=". The Times. ISSN 0140-0460. Retrieved 2019-05-28.