LKQ Corporation has signed an agreement to acquire Stahlgruber GmbH for approximately €1.5 billion (A$2.35b). Headquartered in Germany, Stahlgruber is a leading European wholesale distributor of aftermarket spare parts for passenger cars, tools, capital equipment and accessories with operations in Germany, Austria, the Czech Republic, Italy, Slovenia, and Croatia with further sales to Switzerland. Stahlgruber’s facilities include 228 sales centres, six warehouses, and an approximately 128,000 square metre advanced logistics centre that is strategically located in Germany, serving more than 100,000 professional clients and offering over 500,000 SKUs.
LKQ expects to complete the transaction late in the first quarter or early in the second quarter of 2018, subject to required regulatory approvals.
“This transformative acquisition solidifies LKQ as a leading Pan-European aftermarket mechanical parts distributor, and further enhances our global diversification strategy,” stated Dominick Zarcone, President and Chief Executive Officer of LKQ Corporation. “Stahlgruber has a history of delivering above-market growth and its stellar industry reputation is an ideal fit with our culture; we are extremely proud to welcome the approximately 6600 Stahlgruber employees to the LKQ family. Importantly, we believe that our combined efforts will create tremendous long-term value for our customers and stockholders and growth opportunities for our collective team members.”