Organic growth is anticipated to be the key driver of Volvox during Elysian’s ownership. Over the last 6 years, Ring Automotive, through breadth of range and NPD, has established itself as the category manager for bulbs and auto electricals in the UK automotive aftermarkets, especially within the non-franchise workshops.
Volvox operates within a number of niche segments within the UK aftermarket which overall was estimated at £4bn in 2010.The UK car parc is expected to increase 0.4% annually to 2013. Volvox should benefit disproportionately as the key target market for Volvox is ‘out of warranty’ cars serviced outside the main dealer franchises and the average car age is anticipated to get older increasing the number of cars within Volvox’s segment, driving demand for replacement parts and accessories.
Ring intends to continue to grow its share of the UK automotive aftermarket business with new product introductions, range management and brand development. These category management skills are being used to drive growth in export markets where Ring has successfully established itself but still has a relatively small share compared to the UK.
BMAC, which designs and manufactures lighting products for train and bus OEMs has invested in a range of new products and is anticipated to benefit from a forecast increase in new builds.
Van-Line as a distributor of consumable products to independent workshops and franchise garages has grown its market share over the last few years. Its high product availability levels and market leading service are anticipated to underpin further growth.
Arctic is a plumbing supplies business and is the UK market leader in pipe freezing. This division is now aiming to reap the benefits of NPD with the launch of new product ranges.
Elysian, alongside management will also focus on building critical mass in the smaller businesses, Van Line, Arctic and BMAC.