LKQ Corporation Completes the Sale of its Self Service Segment

Core Points - LKQ Corporation has completed the sale of its Self Service segment, "Pick Your Part," to an affiliate of Pacific Avenue Capital Partners for an enterprise value of $410 million, subject to customary purchase price adjustments [1][2] - The CEO of LKQ stated that the sale aligns with the company's strategic priorities to simplify its business portfolio and reduce costs while aiming to expand margins as market conditions improve [2] - Proceeds from the transaction will be utilized to strengthen LKQ's balance sheet through debt repayment, supporting the company's disciplined capital allocation strategy [2] - Following the sale, LKQ will report the Self Service segment as discontinued operations in its consolidated financial statements starting with the third quarter 2025 earnings release scheduled for October 30, 2025 [2] Company Overview - LKQ Corporation is a leading provider of alternative and specialty parts for the repair and accessorization of 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 types of vehicles [4] Advisory Information - Jefferies LLC acted as the financial advisor and Wachtell, Lipton, Rosen & Katz served as the legal advisor to LKQ in connection with the transaction [3]