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Suncorpís ACM may be next business on the block

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Suncorp is considering options for its ACM automotive parts business, including a potential sale, as it also looks to wrap up a review this year of its Capital Smart Repairs business.

The company took full ownership of ACM in 2016 after buying the stake of its joint venture partner LKQ Corporation, a global auto parts provider based in Chicago.

The Australian Financial Review reported last week that the company has hired Deloitte Corporate Finance to consider the future of the business.

A Suncorp spokeswoman told the company does not comment on market speculation but added: “We continually review our business portfolio to maximise value for all our stakeholders.”

ACM is a national supplier of original, recycled and independently certified parts to the motor repair industry as well as directly to the general public.

Suncorp has this year divested its Resilium authorised representative network through a management buyout. In February it completed the sale of the Australian life insurance business to TAL Dai-ichi and has said it is looking at the future of its crash repair business.

Acting CEO Steve Johnston, who has since been confirmed in the role, told an earnings briefing last month that Suncorp expected to complete the Smart strategic review in the first half of the current financial year.

The Melbourne-based repairer has a national network of workshops that handle more than 145,000 vehicles annually.