Affiliate of Pacific Avenue Capital Partners to Acquire Pick Your Part From LKQ Corporation

LOS ANGELES, CALIFORNIA / ACCESS Newswire / August 26, 2025 / Pacific Avenue Capital Partners ("Pacific Avenue"), a Los Angeles-headquartered private equity firm focused on corporate carve-outs and other complex transactions in the middle market, announced today that an affiliate of Pacific Avenue has entered into an agreement to acquire Pick Your Part ("PYP") from LKQ Corporation (NASDAQ:LKQ). PYP is a long-established, environmentally-conscious auto salvage business known for its self-service salvage yards. PYP operates 61 locations across the United States, enabling customers to remove and purchase used auto parts at affordable prices. PYP operates one of the largest networks of self-service salvage yards, serving a broad base of customers seeking cost-effective solutions.

PYP provides a critical function in extracting value at the last stage of the vehicle's lifecycle and maintains a strong reputation for providing high-quality recycled parts to retail customers and aluminum, autobody steel, precious metals, and vehicle cores for scrap buyers and remanufacturing customers.

Under Pacific Avenue's stewardship, PYP will focus its efforts on meeting the needs of its customers and driving forward a series of strategic growth initiatives to strengthen its leading position.

"We are excited to acquire PYP, a leading self-service salvage yard operator. PYP has built a trusted brand that combines affordability, operational efficiency, and environmental stewardship. This acquisition represents an exciting opportunity to support growth and innovation in sustainable automotive recycling. We look forward to continuing to support the management team and executing on value creation strategies that will drive long-term success for the business." - James Oh, Partner of Pacific Avenue

"We are proud to partner with LKQ on this transaction and to be a trusted partner for corporate sellers seeking seamless execution of complex carve-outs. PYP is a strong fit with our portfolio of industry-leading companies, and we are impressed by its ability to deliver affordable, high-quality parts to customers. We look forward to working with management to provide the resources and expertise needed to accelerate growth and create long-term value." - Chris Sznewajs, Managing Partner of Pacific Avenue

The transaction is expected to be completed during the fourth quarter of 2025, subject to the satisfaction of customary closing conditions, including receipt of required regulatory approval.

Kirkland & Ellis LLP served as the legal advisor for Pacific Avenue.

About Pacific Avenue Capital Partners

Pacific Avenue Capital Partners is a global private equity firm, headquartered in Los Angeles with an office in Paris. The firm is focused on corporate divestitures and other complex situations in the middle market. Pacific Avenue has extensive M&A and operations experience, allowing the firm to navigate complex transactions and unlock value through operational improvement, capital investment, and accelerated growth. Pacific Avenue takes a collaborative approach in partnering with strong management teams to drive lasting and strategic change while assisting businesses in reaching their full potential. Pacific Avenue has approximately $3.8 billion of Assets Under Management (AUM) as of July 31, 2025 (based on Q2 2025 valuations, presented pro forma for the capital commitments of Pacific Avenue Fund II and its sidecar vehicle, which closed in Q3 2025). For more information, please visit www.pacificavenuecapital.com.

About LKQ

LKQ Corporation (www.lkqcorp.com) is a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles. LKQ has operations in North America, Europe and Taiwan. LKQ offers its customers a broad range of OEM recycled and aftermarket parts, replacement systems, components, equipment, and services to repair and accessorize automobiles, trucks, and recreational and performance vehicles.

SOURCE: Pacific Avenue Capital Partners