Pacific Avenue Capital completed the acquisition of the self service segment from LKQ Corporation for $410m.

Pacific Avenue Capital, a middle-market private equity firm, completed the acquisition of the self service segment from LKQ Corporation, a provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles, for $410m. “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,” Justin Jude, LKQ President and Chief Executive Officer.