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WKN: 254570 | ISIN: US5018892084 | Ticker-Symbol: LKQ1
Tradegate
02.10.25 | 15:28
26,600 Euro
0,00 % 0,000
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ACCESS Newswire
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Affiliate of Pacific Avenue Capital Partners Completes the Acquisition of Pick Your Part from LKQ Corporation

LOS ANGELES, CALIFORNIA / ACCESS Newswire / October 2, 2025 / Pacific Avenue Capital Partners ("Pacific Avenue"), a Los Angeles-headquartered private equity firm focused on corporate carve-outs and other complex transactions in the middle market, announced today that an affiliate of Pacific Avenue has completed the acquisition of Pick Your Part ("PYP") from LKQ Corporation (Nasdaq:LKQ). PYP is a long-established, environmentally-conscious auto salvage business known for its self-service salvage yards. PYP operates 61 locations across the United States, enabling customers to remove and purchase used auto parts at affordable prices. PYP operates one of the largest networks of self-service salvage yards, serving a broad base of customers seeking cost-effective solutions.

The acquisition of PYP is the latest example of Pacific Avenue's ability to navigate complex transactions and partner with corporate parents to effectively execute seamless carve-outs of non-core business units across a wide variety of industries. Under Pacific Avenue's stewardship, PYP will focus its efforts on meeting the needs of its customers and driving forward a series of strategic growth initiatives, including actively pursuing add-on acquisitions, to strengthen its leading position.

PYP's existing leadership team will remain in place, continuing to prioritize quality, service, and support to PYP stakeholders across the country. In addition, Robert Wagman and Dom Schiano are expected to become board members of the standalone business.

"We are thrilled to officially complete our acquisition of Pick Your Part, the nation's leading self-service salvage yard operator. The company's strong brand, customer value proposition, and commitment to sustainable automotive recycling are all hallmarks of its industry leadership and also what make PYP a particularly attractive platform for future M&A. We look forward to partnering with the management team to execute on our shared vision for value creation and long-term success of the business."

-James Oh, Partner of Pacific Avenue

"We are pleased to close on Pacific Avenue's latest corporate carve-out acquisition and are proud to have partnered with LKQ on this important strategic transaction. PYP is a natural fit with our portfolio of industry-leading companies, and we are impressed with its ability to consistently provide customers with affordable, high-quality parts. We look forward to supporting the management team with the resources and expertise to drive growth and create lasting value."

-Chris Sznewajs, Managing Partner of Pacific Avenue

"Pacific Avenue's acquisition marks an exciting new chapter for Pick Your Part. This new partnership will provide incremental resources and strategic support to accelerate growth, drive operational excellence, pursue accretive M&A, and continue delivering unmatched value to our customers and partners. We're proud of what the PYP team has built thus far, and we look forward to the many opportunities that lie ahead under our new ownership."

-Mike Dufresne, CEO of Pick Your Part

Kirkland & Ellis served as the legal advisor for Pacific Avenue. Partners Capital was a lead co-investor in the transaction.

About Pacific Avenue Capital Partners

Pacific Avenue Capital Partners is a global private equity firm, headquartered in Los Angeles with an office in Paris. The firm is focused on corporate divestitures and other complex situations in the middle market. Pacific Avenue has extensive M&A and operations experience, allowing the firm to navigate complex transactions and unlock value through operational improvement, capital investment, and accelerated growth. Pacific Avenue takes a collaborative approach in partnering with strong management teams to drive lasting and strategic change while assisting businesses in reaching their full potential. Pacific Avenue has approximately $3.8 billion of Assets Under Management (AUM) as of August 31, 2025 (based on Q2 2025 valuations, presented pro forma for the capital commitments of Pacific Avenue Fund II and its sidecar vehicle, which closed in Q3 2025). For more information, please visit www.pacificavenuecapital.com.

About Partners Capital

With more than $63 billion in assets under management, Partners Capital is a leading global investment firm acting for distinguished endowments, foundations, senior investment professionals and prominent families. For more information, please visit www.partners-cap.com/co-investment.

About LKQ

LKQ Corporation (www.lkqcorp.com) is a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles. LKQ has operations in North America, Europe and Taiwan. LKQ offers its customers a broad range of OEM recycled and aftermarket parts, replacement systems, components, equipment, and services to repair and accessorize automobiles, trucks, and recreational and performance vehicles.

Contact Information
Chris Baddon
Principal
cbaddon@pacificavenuecapital.com

SOURCE: Pacific Avenue Capital Partners



View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/banking-and-financial-services/affiliate-of-pacific-avenue-capital-partners-completes-the-acquisiti-1080884

© 2025 ACCESS Newswire
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