MEKO (former Mekonomen Group) consists of the leading automotive spare-parts chains in the northern Europe, with proprietary wholesale operations, over 600 branches and 4,100 workshops operating under the Group brands: FTZ, Inter-Team, Koivunen, MECA, Mekonomen and Sørensen og Balchen.
Acquisition of Koivunen
Through the acquisition of Koivunen, MEKO expands its geographical presence in Finland and establishes itself in the Baltics. MEKO strengthens its position within sales of car parts and becomes the leading player in Northern Europe.
Name change to MEKO
The company’s new name MEKO AB (publ.) has been registered with the Swedish Companies Registration Office. The name change was decided by the shareholders at the company’s Annual General Meeting on 20 May 2022, to more clearly reflect the breadth of the operation.
Acquisition of FTZ and Inter-Team
Through the acquisition of FTZ and Inter-Team, MEKO strengthened its position within sales of car parts in northern Europe. The acquisitions entailed re-establishment with a strong market-leading position in Denmark and establishment in Poland, where the Group had no previous business.
Annual sales exceed SEK 6 billion
For the first time annual sales exceed SEK 6 billion, with committed managers and employees, strong brands and concepts and an efficient logistics chain being crucial success factors for the business.
New principal shareholder
The US car parts wholesaler LKQ acquired Axel Johnsson’s shares and became the principal shareholder with 26,5 per cent of the shares in Mekonomen.
Mekonomen divests business in Denmark
The Danish business was divested fully towards the end of 2016.
Acquisition of Opus Equipment with subsidiary JB Maskin
Through the acquisition of Opus Equipment, MEKO’s focus on workshop equipment was broadened with full-service solutions as regards service and maintenance for professional workshops and vehicle inspection stations. In 2017 Opus Equipment changed its name to Preqas AB.
MEKO expanded through the acquisition of MECA Scandinavia with stores and workshops in Sweden and Norway. MEKO now consisted of the tree group companies MECA, Mekonomen and Sørensen og Balchen. The Group companies continued to be operated under their respective brands with differentiated concepts, offers and customer target groups. To take advantage of the benefits of the larger purchasing volumes, the purchasing department were centralised under one organisation.
Acquisition Sørensen og Balchen
MEKO expanded through the acquisition of Sørensen og Balchen car part wholesaler with stores and workshops i Norway under the brand BilXtra. To take advantage of the benefits of larger purchasing volumes, a purchasing cooperation began between Mekonomen and Sørensen og Balchen.
Establishment in Finland and acquisition Speedy
Mekonomen established its first store in Finland (Helsinki) and the car service chain Speedy was acquired with 11 workshops in Sweden.
New head owner
Mekonomen recieved a new principal owner, Axel Johnson AB, which acquired 29 per cent of capital and votes of the founding families.
Establishment in Denmark
Denmark´s leading car part chain Østergaard was acquired. Mekonomen was now established in Sweden, Norway and Denmark with over 700 workshops, 150 stores and 800 employees.
On 29 May 2000 Mekonomen was introduced on the Stockholm Stock Exchange. In connection with the IPO, Mekonomen’s spare parts catalogue was transferred to an online format.
Mekonomen Bilverkstad and establishment in Norway
The number of stores in the Mekonomen chain exceeded 100 and the Mekonomen Bilverkstad concept was launched. Wholesale operations were established in Norway through the acquisition of Christoffersen and Bekken.
Wholesale operation moves to Strängnäs
The wholesale warehouse moved to a new building of 20 000 sqm in Strängnäs, Sweden.
Integrerad detaljist- och grossistkedja
Grossistbolaget Bileko ändrade namn till Mekonomen Grossist och affärsidén från 1973 genomfördes fullt ut – Mekonomen blev nu en integrerad detaljist- och grossistkedja. Affären växte snabbt både geografiskt och med nya produktgrupper.
Expansion of the wholesale operation in Sätra
The business needed more space and the wholesale warehouse in Sätra in Sweden more than doubled from 3500 sqm to 8000 sqm. During the year Mekonomen also acquired land in Strängnäs. The area was convenient for a cost-effective distribution all over Sweden. The service towards the stores was significantly increased with the start of in-night deliveries. Customers would get their products delivered the day after their order.
Sales exceeded SEK 100 M
For the first time sales exceeded SEK 100 M, thanks to a focus on an efficient logistics chain with rapid deliveries.
Butikskedjan Mekonomen förvärvades med 17 butiker (koncernen bytte namn till Mekonomen år 1996).
The first store opened
The first store was opened in Norrtälje in Sweden under the name Primexxa AB.
Mekonomen was founded in 1973 under the name Bileko by the two entrepreneurs Ingemar Fraim and Leif Möller. Initially, the business was focused on sales of exhaust systems to petrol stations, with a focus on prompt deliveries. With a small local base, they drove around in Stockholm in an old Mercedes and was able to deliver spare parts within two hours. The concept with rapid deliveries proved to be very successful and the product range was subsequently expanded to include brakes, car fronts, wheel bearings and other spare parts.