IAR Recyclers Newspress September / October 2015

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Industry News
LKQ Acquisitions of PartsChannel & Coastal Distributer
LKQ Corporation (LKQ) Announces Acquisition
of Aftermarket Parts Distributor PartsChannel
Wednesday, July 8, 2015— LKQ Corporation
(NASDAQ: announced that it has acquired sub-
stantially all of the assets of PartsChannel, Inc., an
aftermarket collision parts distributor with fourteen
warehouses servicing over thirty markets across the
United States.
"PartsChannel presents attractive synergies within
our existing network while simultaneously adding
some new geographic locations to our North Ameri-
can aftermarket collision parts business,” stated Rob-
ert L. Wagman, President and Chief Executive Of-
ficer of LKQ Corporation.
Additional terms of the PartsChannel transaction
were not disclosed.
Thursday, July 9, 2015— LKQ Corp. agreed to
acquire Coast Distribution Systems, a distributor
of replacement parts, supplies and accessories for
recreational vehicles, for $5.50 per share in cash or
approximately $29 million. The combination would
result in distribution and logistics synergies
As per the agreement, a subsidiary of LKQ will com-
mence a tender offer to acquire all outstanding
shares of Coast's common stock. Coast's Board of
Directors unanimously recommended the offer. The
acquisition is currently expected to close in the third
quarter of 2015.
As of June 30, 2015 Coast had $19.5 million out-
standing under its long-term revolving bank line of
credit. Robert W. Baird & Co. Incorporated and Duff
& Phelps, LLC are acting as financial advisors to The
Coast Distribution System.
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