Birmingham based classic parts supplier Leacy Classics has bought a local Mini parts specialist to help it keep up with demand from abroad.
David Keene, CEO of Leacy Classics (left) and Julian Fishwick, previous owner of the Min-its next to Mini-its demo Mini.
Leacy sends 50%of its stock overseas, which it attributes to the growth of the classic Mini scene. The acquisition of Min-its is part of a three year growth plan that will increase turnover of the business to £10 million.
CEO David Keene says the market for classic Minis has expanded so much that his firm can barely keep up with demand. He said: ‘There is a real resurgence of interest, with lower insurance rates than most modern cars and rapidly appreciating values. The acquisition of Min-its gives us the opportunity to expand the range of classic and high performance Mini parts to our retail and trade customer base and potentially increase our international business even further.’
The company will use the purchase of Min-its to expand its range to over 50,000 parts, including an enhanced selection of 5000 Mini spares and high performance engine components, creating 20 new jobs in the process.
All current jobs at Min-its will be safeguarded as part of the deal. Martin Hale from the Midlands Mini Club was upbeat about the news, but didn’t hold much hope for lower prices. He said: ‘Hopefully Leacy Classics will keep up the good work of Min-its. But prices for things like bonnets have trebled in the last five years, and we suspect that won’t be changing anytime soon.’