LKQ Completes Acquisition of Keystone Automotive Industries - aftermarketNews

LKQ Completes Acquisition of Keystone Automotive Industries

LKQ Corp. has completed its acquisition of Keystone Automotive Industries, Inc. As a result of the merger, Keystone is now a wholly-owned subsidiary of LKQ Corp. and Keystone stockholders will receive $48 in cash for each Keystone share they held prior to the closing. Ronald Foster, the former chairman of the board of Keystone, and Rick Keister, the former president and chief executive officer of Keystone, were appointed to LKQ's board of directors upon completion of the merger.

CHICAGO — LKQ Corp. has completed its acquisition of Keystone Automotive Industries, Inc. As a result of the merger, Keystone is now a wholly-owned subsidiary of LKQ Corp. and Keystone stockholders will receive $48 in cash for each Keystone share they held prior to the closing.

Ronald Foster, the former chairman of the board of Keystone, and Rick Keister, the former president and chief executive officer of Keystone, were appointed to LKQ’s board of directors upon completion of the merger.

"We are delighted to complete our merger with Keystone," said Joseph Holsten, president and chief executive officer of LKQ Corp. "This merger creates an alternative replacement parts business with more than $1.6 billion of trailing annual revenue. Keystone’s aftermarket product line is a perfect complement to LKQ’s leading presence in the recycled parts marketplace. We now have an expanded national network of nearly 300 facilities that allow us to offer readily available, high quality recycled, refurbished and aftermarket collision repair parts to our customers. We are proud to be the nation’s leading supplier of aftermarket collision parts, recycled OEM parts, refinished alloy wheels, and refinished plastic bumper covers."

For more information about LKQ, go to: http://www.lkqcorp.com.

You May Also Like

I-CAR, SCRS Release Collision Repair Tech Satisfaction Report

The survey of 800 collision repair techs showcases their opinions on compensation, culture and career opportunities.

In response to the growing challenges faced by the collision repair industry in retaining and attracting skilled technicians, I-CAR, the Inter-Industry Conference on Auto Collision Repair, in collaboration with the Society of Collision Repair Specialists (SCRS), engaged with Ducker Carlisle, a global consulting firm, to conduct a technician satisfaction survey researching their opinions on compensation, culture and career opportunities. The white paper showcases the perspective of collision repair technicians and aims to better understand their sentiments and career outlook while identifying key factors influencing their workplace satisfaction.

WIN Announces Speakers & Programs for 2024 Conference

The conference will feature an array of speakers as well as sessions on repair planning, financial literacy and fostering a welcoming culture in the workplace.

WIN-Conference-2024-2
Evercoat, ASE Partner on Collision Repair Education

Evercoat will provide educational opportunities and resources for instructors, students and active technicians pursuing careers in collision repair.

Evercoat Partners with ASE to Support Collision Repair Education
I-CAR’s Collision Careers Launches Digital Ad Campaign

The campaign is aimed at attracting talent to the industry and showcasing the benefits of a career in collision repair.

I-CAR-collision-careers
CenterOak Partners Announces Sale of CollisionRight

CollisionRight has grown to become the sixth-largest collision repair operator in the US.

Valvoline Inc. has announced that it has completed the previously announced sale of its Global Products business to Aramco.

Other Posts

NABC Donates Recycled Ride to Three Veterans and Single Mom

The Palm Springs recipients add to the nearly 400 NABC Recycled Rides presented in California since the program was founded.

NABC-Recycled-Rides
Certified Collision Group Enters Canadian Market

CCG also announced that 15-year industry veteran Rebecca Fyfe will lead the efforts in Canada as vice president of sales, Canada.

Certified-collision-group
Bosch Joins CAPA’s Tier 1 Replacement Parts Verification Program

Bosch intends to submit its ultrasonic parking sensors for CAPA verification.

Repairify, Autel to Add New Collision Solutions

Repairify’s remote services and OEM tool scans will be integrated with Autel’s Remote Expert platform.