Core Insights - LKQ Corporation has entered into a definitive agreement to sell its Self Service segment, "Pick Your Part," to Pacific Avenue Capital Partners for an enterprise value of $410 million, subject to customary post-closing adjustments [1][2] - The sale is part of LKQ's multi-year transformation strategy aimed at simplifying its corporate structure and focusing on core segments, as stated by the company's President and CEO, Justin Jude [2] - The net proceeds from the sale will be utilized to strengthen LKQ's balance sheet through debt repayment [2] Transaction Details - The transaction is expected to be completed in the fourth quarter of 2025, pending customary closing conditions and regulatory approvals [3] - Jefferies LLC acted as the financial advisor, while Wachtell, Lipton, Rosen & Katz served as the legal advisor for LKQ in this transaction [3] Company Overview - LKQ Corporation is a leading provider of alternative and specialty parts for automobiles and other vehicles, with operations in North America, Europe, and Taiwan [4] - The company offers a wide range of OEM recycled and aftermarket parts, replacement systems, components, equipment, and services for various vehicles [4]
LKQ Corporation Agrees to Sell its Self Service Segment