Fenix Parts, a Hurst, Texas-based recycler and reseller of original equipment manufacturer automotive products, announced the closing of the transaction to acquire the assets of Cox Truck and Van (CTV).
The execution of a definitive purchase agreement was previously announced on July 16. This is the first acquisition completed under the Fenix Parts platform since the company was acquired by affiliates of Stellex Capital Management LP in April 2018.
CTV, founded in 1977, operates a full-service auto recycling facility in Gainesville, Georgia, and both full-service and self-service facilities in Moultrie, Georgia. The Georgia locations will be key additions to the Southeast supply chain at Fenix Parts.
“We are pleased to complete this transaction,” said Bill Stevens, CEO of Fenix Parts. “Since the signing of the purchase agreement, Fenix Parts and CTV have worked diligently to develop and implement a plan to integrate CTV into our operations. As a result of this work, we are in a position to provide immediate benefits to our customers in the form of increased inventory availability and make the transition seamless for our employees.”