LKQ Corp Sells Pick Your Part Segment for $410M

By Tamara Parker • Tuesday, August 26 15:53 • Permanent Link

LKQ Corporation (NASDAQ: LKQ) has announced the sale of its self-service segment, "Pick Your Part," to an affiliate of Pacific Avenue Capital Partners, LLC for a total enterprise value of $410 million. This move is a part of the company's strategic plan to simplify its corporate structure and focus on core segments.

The net proceeds from the sale will be utilized to strengthen LKQ's balance sheet through debt repayment. The transaction is expected to be completed in the fourth quarter of 2025, subject to customary closing conditions and regulatory approval.

Jefferies LLC served as the financial advisor to LKQ, and Wachtell, Lipton, Rosen & Katz served as the legal advisor to LKQ in connection with the transaction.

This sale marks an important step in LKQ's multi-year transformation, as the company aims to become a more focused and high-performing organization with leadership positions in its priority segments.

As of the latest press release, no specific financial metrics or changes in performance have been provided. The market has reacted to these announcements by moving the company's shares -0.28% to a price of $31.61. Check out the company's full 8-K submission here.

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