Connect with us

Collision

LKQ Acquires East Coast Aftermarket Business

LKQ Corp. has acquired Bodymaster Auto Parts, Inc. and a related company that operates in the aftermarket collision automotive replacement parts business. BodyMaster Auto Parts, established in 1988, operates a regional 70,000-square-foot warehouse in Pennsauken, NJ, and a 38,000-square-foot warehouse in Landover, Md. The company serves customers throughout New Jersey and Delaware as well as the greater areas of Philadelphia, Washington, D.C. and Baltimore.

Advertisement

CHICAGO — LKQ Corp. has acquired Bodymaster Auto Parts, Inc. and a related company that operates in the aftermarket collision automotive replacement parts business.

Click Here to Read More
Advertisement

BodyMaster Auto Parts, established in 1988, operates a regional 70,000-square-foot warehouse in Pennsauken, NJ, and a 38,000-square-foot warehouse in Landover, Md. The company serves customers throughout New Jersey and Delaware as well as the greater areas of Philadelphia, Washington, D.C. and Baltimore.

According to Joseph Holsten, LQK president and CEO, the territory covered by Bodymaster significantly expands LQK’s market reach.

“Through the addition of Bodymaster, we accomplish two major objectives. First, we penetrate the aftermarket parts business in three major U.S. markets, namely Philadelphia, Baltimore, and Washington, D.C., and second, we create the ability to leverage Bodymaster’s strong market position to accelerate the growth of our recycled parts business in these densely populated areas,” said Holsten.

Advertisement

Bodymaster had annual revenues of $19.5 million in 2004. LQK paid approximately $15.4 million, net of acquired cash, for the business and said it expects Bodymaster to provide between 3 cents and 4 cents in diluted earnings per share to LKQ in 2005.

_______________________________________

Click here to view the rest of today’s headlines.

Advertisement

POPULAR POSTS

Sponsored Content

SRX Series a Natural Fit for FRAM®

Connect
aftermarketNews