LKQ Corp. Makes Acquisitions

LKQ Corp. announced that it has acquired an aftermarket business and two recycled parts businesses with aggregate 2005 revenue of about $20 million.

The aftermarket business operates as Global Automotive Parts from three warehouses in the Los Angeles, Portland, OR, and Seattle markets.

The two recycled parts business acquisitions consist of three facilities in Western Michigan with a total acreage of about 25 acres and three facilities in the Tulsa, OK market with about 40 acres. Combined, these businesses consist of four operations that sell primarily into the retail market and two facilities that sell primarily into the professional repair market.

"We remain pleased with the overall acquisition environment, and are particularly happy with the geographical and product mix reflected by these three transactions. In particular, Global provides immediate access to three major West coast markets that completes our near-term aftermarket parts strategy for the West, as we now have the ability to provide aftermarket parts sales and distribution to our customer base and insurance partners in the four major markets of Los Angeles, the Bay area, Portland, and Seattle," said Joe Holsten, LKQ's president and CEO. "On the recycled parts businesses that we acquired, our Tulsa acquisition fits nicely in terms of adding more capacity and density to our Central Region as well as providing warehousing capacity for our aftermarket operations in Oklahoma and Northwestern Arkansas. While we currently provide a limited service to the Grand Rapids and Western Michigan market, our Michigan acquisition provides important additional processing and storage capacity to our Michigan recycled parts business."