Pacific Avenue Capital to acquire the self service segment from LKQ Corporation for $410m.

Pacific Avenue Capital, a middle-market private equity firm, agreed to acquire the self service segment from LKQ Corporation, a provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles, for $410m. “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. While Pick Your Part has played a meaningful role in our history, we believe that it no longer aligns with our long-term strategy. As we have said, after having built the Company through thoughtful acquisitions over many years, we have reached a point where it makes sense to assess opportunities to simplify and sharpen our focus. We will continue to evaluate opportunities to advance our strategic objectives so that we can best serve customers and create value for our shareholders," Justin Jude, LKQ President and Chief Executive Officer.