LKQ Continues Acquisition Strategy in Third Quarter 2010 - aftermarketNews

LKQ Continues Acquisition Strategy in Third Quarter 2010

The company says these acquisitions improve LKQ's wholesale aftermarket and recycled parts distribution in a number of markets including Philadelphia and Cincinnati. The acquisitions also increase the company's production capacity for the refinishing of aluminum wheels and expand its paint distribution in the Boston metropolitan market.

CHICAGO — LKQ Corp. said it completed seven acquisition transactions in the third quarter. The combined annual revenue for the acquired businesses is approximately $115 million.

Commenting on the acquisitions, Joseph Holsten, president and CEO of LKQ Corp., stated, "The environment for acquisitions is very good for LKQ. In addition to the transactions we have completed so far this quarter, we continue to see opportunities for other tuck-in and synergistic businesses."

The company says these acquisitions improve LKQ’s wholesale aftermarket and recycled parts distribution in a number of markets including Philadelphia and Cincinnati. The acquisitions also increase the company’s production capacity for the refinishing of aluminum wheels and expand its paint distribution in the Boston metropolitan market.

Holsten commented, "With these acquisitions we gain strategic capacity in the Philadelphia and Cincinnati markets and with additional paint and refinished wheels businesses we continue to expand our portfolio of products so we can better serve our customers in the automotive repair industry. Although approximately 40 percent of the revenue acquired relates to lower margin scrap aluminum sales, we purchased this business to obtain access to additional cores for our reconditioned wheel operations. LKQ is on pace to complete a record number of deals this quarter. We expect that integration of these acquired businesses will take us through the fourth quarter of this year, and we expect to enjoy the benefits in 2011 and beyond."

You May Also Like

BASF Honors 6 Students with Paint Award of Excellence at Autorama

The honor went to a select group of high-achieving students who are passionate about the automotive industry and collision repair.

BASF Awards

To kick off Detroit Autorama 2024, BASF awarded six students the BASF Paint Award of Excellence.

The honor went to a select group of high-achieving students who are passionate about the automotive industry and collision repair.

The six selected students participated in exclusive activities during the student career day and took part in discussions about automotive-industry professions. Led by International Show Car Association General Manager Paul Potocki, students evaluated the competition vehicles on their paint.

AkzoNobel Custom Paint Line Carried by Advance Auto, Carquest

Nearly 400 Advance and Carquest stores currently offer the Modern Classikk paint line, with more locations added every day.

AkzoNobel Custom Paint Line Carried by Advance Auto, Carquest
PGW Auto Glass Acquires AutoglassCRM

The acquisition will transform AutoglassCRM into Everything Autoglass, according to PGW Auto Glass.

ProColor Collision Welcomes First East Coast Shop

The new location in Greensboro, NC, is owned and operated by Russ Morgan, who has spent more than 30 years in the collision repair industry.

ProColor Collision Welcomes First East Coast Shop
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.

Other Posts

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.