LKQ Corporation acquired Rhiag-Inter Auto Parts Italia from Apax Partners.

LKQ Corporation, a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles, acquired Rhiag-Inter Auto Parts Italia, a leading pan-European business-to-business distributor of aftermarket spare parts for passenger cars and commercial vehicles, from private equity firm Apax Partners for $1.1bn. “Rhiag expands our addressable market with the addition of 10 new countries to our European footprint,” stated Robert L. Wagman, President and Chief Executive Officer of LKQ Corporation. “Rhiag has a strong market position in Italy and the Czech Republic and experienced management teams in their respective markets. Clearly this acquisition will accelerate our strategy of creating a Pan-European aftermarket mechanical parts distribution business in this highly-fragmented €188 billion wholesale DIFM market.”