LKQ Completes Divestiture of GSF Car Parts

LKQ Completes Divestiture of GSF Car Parts

LKQ has sold GSF to Epiris, a private-equity fund based in the United Kingdom.

LKQ Corporation announced it has sold GSF Car Parts (“GSF”) to Epiris Fund III (“Epiris”), a private-equity fund based in the United Kingdom. The divestiture fulfills LKQ’s undertaking to the UK’s Competition and Markets Authority to sell the GSF business in connection with LKQ’s acquisition of Uni-Select Inc.

“The proceeds from the sale of GSF will be utilized to reduce our total debt, putting us in a better position to begin implementing a more balanced capital allocation strategy, which includes share repurchases,” said Rick Galloway, LKQ senior vice president and chief financial officer.

Terms of the transaction were not disclosed.

You May Also Like

The Digitalization of Mexico’s Automotive Manufacturing Industry

Ibarra discusses the future trends in the digitalization of the automotive industry in Mexico, and how companies should prepare for them.

The-Digitalization-of-Mexicos-Automotive-Manufacturing-Industry

GlobalAutoIndustry.com’s latest Audio Interview "The Digitalization of Mexico's Automotive Manufacturing Industry" features Fernando Ibarra.

Ibarra is president of the industry 4.0 Cluster of San Luis Potosi, Mexico. He is also director of the German Mexican Chamber of Commerce and Industry in Mexico. In addition, he serves as the senior advisor of the Secretary of Economic Development of the State of San Luis Potosi.

Martinrea Invests $35 Million to Expand Ontario Facility

The company said the new addition will house a new SIMPAC 3000 metric ton stamping press.

Polestar Integrates Renewable Fuels for Ocean Freight

The company is reducing supply chain emissions by integrating renewable fuels on its ocean freight routes, which account for around 75% of its total transportation emissions.

Polestar-Integrates-Renewable-Fuels-for-Ocean-Freight
MEMA to Host International Supply Chain Webinar

The content of the webinar will be beneficial to operations, logistics and purchasing teams, the organizations said.

Gemini-Shippers_MEMA-webinar
Iveco, Foton Announce Joint Exploration Project

The two companies will look into future synergies in the areas of electric vehicles and components.

Hyundai Motor, Iveco Group Partner on Electric H-D Trucks

Other Posts

Andreas Nix Takes Over as COO of ZKW Group

Nix replaces Stefan Hornvuis, who left the company for personal reasons.

https://www.aftermarketnews.com/zkw-named-headlamp-supplier-for-the-bmw-xm/
Distressed German Companies: Creating M&A Opportunities

Hertzog discusses how to create opportunities with exceptional values when acquiring the operations of a distressed company in Germany.

Phil-Hertzog-Distressed-German-Companies
Schaeffler Appoints New Head of Investor Relations

Schaeffler AG announced two important leadership changes within the management level directly below the Board of Managing Directors, effective June 1, 2024.

Schaeffler promotions
Yokohama Rubber Q1 2024 Sales Up 23.5%

The figures for sales revenue and business profit were record-high figures for first-quarter performance at Yokohama Rubber.