Fenix Parts Inc., a recycler and reseller of OEM automotive products, has announced the execution of a definitive agreement whereby Fenix Parts will acquire the assets of Cox Truck and Van Inc. (CTV). The parties expect the acquisition to be completed in July. 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.
Bill Stevens, CEO of Fenix Parts, said, “We are pleased to announce this agreement with CTV. We look forward to welcoming CTV to Fenix Parts and are excited to work with this highly talented team. CTV is a high-quality auto recycler whose strategic locations will allow us to expand our distribution, dismantling, warehouse and yard capacity in the Southeast region. Their strong leadership and company culture are an excellent fit for Fenix Parts.”
This acquisition represents the first addition to the Fenix Parts platform since the company was acquired by affiliates of Stellex Capital Management LP in April 2018.
Joey, Jason and Randy Cox of CTV commented, “We are very humbled and excited to bring our family business into the Fenix Parts fold. We look forward to contributing to the great success Fenix Parts has achieved in the Southeast region.”