The regular expression looks to me like:
Either the line contains:
[ul]
[li]FRU Number
[li]Serial Number
[li]Part Number
[li]An anchor to the start of the line, followed by 2 spaces, followed by one non-space, followed by zero or more non-spaces. In other words - an anchor to the start of the line, followed by 2 spaces, followed by one or more non spaces (egrep does not have the equivalent of the '+' metacharacter).
[/ul]
Hope this helps, cheers, Neil