LKQ Corporation has entered into a definitive agreement to sell its Self Service segment ('Pick Your Part') to an affiliate of Pacific Avenue Capital Partners, LLC for $410 million.
The sale is part of LKQ Corporation's strategic plan to simplify its corporate structure and focus on core segments.
The transaction is expected to be completed during the fourth quarter of 2025.
Sale of Self Service Segment
LKQ Corporation agreed to sell its Self Service segment for $410 million to focus on core segments and simplify the corporate structure.
Competitive Bid Sale Process
The sale resulted from a robust competitive bid sale process that attracted interest from multiple parties.
Financial Advisors
Jefferies LLC served as the financial advisor to LKQ, and Wachtell, Lipton, Rosen & Katz served as the legal advisor in the transaction.
- The sale of the Self Service segment aligns with LKQ's long-term strategy to become a more focused and high-performing company with leadership positions in priority segments.
- LKQ aims to strengthen its balance sheet through debt repayment using the net proceeds from the sale.
LKQ Corporation's decision to sell its Self Service segment demonstrates its commitment to refining its focus and enhancing shareholder value through strategic business decisions.