Pacific Avenue Capital Partners to Acquire Business Unit from LKQ Corp. at $410 Million Enterprise Value

Manhattan Beach private equity firm Pacific Avenue Capital Partners LLC agreed to acquire the Self Service segment of LKQ Corp. for an enterprise value of $410 million. The business unit, known as “Pick Your Part,” is the nation’s largest buyer of used vehicles with salvage yards across the country. It purchases 600,000 used cars and trucks annually.

“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,” said Justin Jude, LKQ’s chief executive, in a statement. “While Pick Your Part has played a meaningful role in our history, we believe that it no longer aligns with our long-term strategy.”

LKQ will use the net proceeds from the sale to strengthen its balance sheet through debt repayment. The transaction is expected to be completed during the fourth quarter of 2025.

Jefferies LLC acted as financial advisor for LKQ Corp., and Wachtell, Lipton, Rosen & Katz LLP acted as legal advisor. Kirkland & Ellis LLP acted as legal advisor for Pacific Avenue Capital Partners.

Information for this article was sourced from LKQ Corp.