Automotive parts group GUD Holdings is expanding into the high-growth segment of making tow bars, roof racks, nudge bars and trailer parts for four-wheel drives, utes and SUVs with the $745 million acquisition of Melbourne-based AutoPacific Group in a move that also positions it for a steady transition to electric vehicles.

GUD will become a clear No.2 player in the 4WD and SUV parts and accessories market behind ASX-listed ARB Corporation with the purchase of AutoPacific from private equity group Pacific Equity Partners. AutoPacific is one of ARB’s customers.