LKQ Corporation (NASDAQ: LKQ) announced it has completed its previously announced agreement to sell its Self Service segment, Pick Your Part, to an affiliate of Pacific Avenue Capital Partners, LLC for an enterprise value of $410 million, subject to customary purchase price adjustments.
Justin Jude, President and Chief Executive Officer, commented, “We are executing on our strategic priorities by simplifying our portfolio of businesses and continuing our efforts to reduce costs across our business while growing, with a goal of expanding margins as the market turns. The proceeds from this transaction will be used to strengthen LKQ’s balance sheet through debt repayment, as we focus on executing our disciplined capital allocation strategy. We would like to thank all Pick Your Part employees for their years of service at LKQ, and we wish them the best in the future under the ownership of Pacific Avenue Capital Partners.”
As a result of the sale, the Company will report Self Service as discontinued operations in its consolidated financial statements for all current and prior comparable reporting periods beginning with the third quarter 2025 earnings release scheduled for October 30, 2025.
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.