WASHINGTON (dpa-AFX) - LKQ Corporation (LKQ), a vehicle parts and service provider, said on Tuesday that it has inked a deal to sell its Self Service segment to an affiliate of Pacific Avenue Capital Partners, LLC for $410 million.
Justin Jude, CEO of LKQ, said: 'Today's announcement marks another important step in our multi-year transformation to simplify our portfolio and become a more focused, high-performing company with leadership positions in our priority segments.'
The net proceeds from the sale, expected to be closed in the fourth quarter of 2025, will be used to boost LKQ's balance sheet through debt repayment.
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