LKQ 8-K
Lkq Corp (LKQ)
8-K
2025-08-26
For: 2025-08-25
View Original
Added on
April 09, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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Current Report
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 25, 2025
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(Exact name of registrant as specified in its charter)
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Registrant's telephone number, including area code: (615 ) 781-5200
N/A
(Former name or former address, if changed since last report)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | |||||||||||||||
The | |||||||||||||||||
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Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
| Item 8.01 | Other Events. | ||||
On August 25, 2025, LKQ Corporation (the “Company”) entered into a definitive agreement to sell its Self Service segment (“Pick Your Part”) to an affiliate of Pacific Avenue Capital Partners, LLC for an enterprise value of $410 million, subject to customary post-closing purchase price adjustments. On August 26, 2025, the Company issued a press release announcing the entry into the definitive agreement for the sale of Pick Your Part. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
| Item 9.01 | Financial Statements and Exhibits. | ||||
(d) Exhibits.
| Exhibit Number | Description of Exhibit | |||||||
| LKQ Corporation Press Release dated August 26, 2025. | ||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: August 26, 2025
| LKQ CORPORATION | |||||
| By: | /s/ Matthew J. McKay | ||||
| Matthew J. McKay | |||||
| Senior Vice President, General Counsel and Corporate Secretary | |||||
Exhibit 99.1
LKQ Corporation Agrees to Sell its Self Service Segment
Transaction Advances LKQ Corporation's Strategic Plan
to Simplify Corporate Structure and Focus on Core Segments
ANTIOCH, Tenn., August 26, 2025 – LKQ Corporation (Nasdaq: LKQ) (“LKQ” or the “Company”) today announced it has entered into a definitive agreement to sell its Self Service segment (“Pick Your Part”) to an affiliate of Pacific Avenue Capital Partners, LLC for an enterprise value of $410 million, subject to customary post-closing purchase price adjustments. This proposed transaction was the result of a robust competitive bid sale process that attracted interest from several parties.
“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,” said Justin Jude, LKQ’s President and Chief Executive Officer. “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.”
Mr. Jude added, “We know the Pick Your Part team will continue to be best-in-class operators under the ownership of Pacific Avenue Capital Partners. We thank all Pick Your Part employees for their efforts and years of service at LKQ and wish them the best.”
The net proceeds from the sale will be used to strengthen LKQ’s balance sheet through debt repayment.
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.
Jefferies LLC served as the financial advisor to LKQ, and Wachtell, Lipton, Rosen & Katz served as the legal advisor to LKQ in connection with the transaction.
About LKQ Corporation
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.
Forward Looking Statements
This communication contains forward-looking statements, including, but not limited to, statements related to the proposed sale of Pick Your Part by LKQ. Words such as “expects,” “anticipates,” “aims,” “projects,” “intends,” “plans,” “believes,” “estimates,” “seeks,” “assumes,” “may,” “should,” “could,” “would,” “foresees,” “forecasts,” “predicts,” “targets,” “will”, “commitments,” variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are based upon LKQ’s current plans, assumptions, beliefs, and expectations. Forward-looking statements are subject to the occurrence of many events outside of LKQ’s control. Actual results and the timing of events may differ materially from those contemplated by such forward-looking statements due to numerous factors that involve substantial known and unknown risks and uncertainties.
These risks and uncertainties include, among other things, statements regarding the expected benefits to LKQ and its respective customers from completing the transaction, plans for future investment and capital allocation, the expected financial performance of LKQ following the expected completion of the transaction, and the expected completion of the transaction. Statements regarding future events are based on the parties’ current expectations, estimates and projections and are necessarily subject to associated risks related to, among other things, (i) the completion of the proposed transaction on the anticipated terms and timing, or at all, including the parties’ ability to obtain the required
regulatory approval and satisfy other conditions to the completion of the transaction, (ii) the effect of the announcement or pendency of the proposed transaction on LKQ’s business, operating results, ability to retain and hire key personnel, and relationships with customers, suppliers, competitors and others, (iii) risks that the proposed transaction may disrupt LKQ’s current plans and business operations or divert management’s attention from ongoing business operations, (iv) the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreement entered into in connection with the proposed transaction, (v) legislative, regulatory and economic developments and (vi) general economic conditions.
For additional information about other factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to LKQ’s periodic reports and other filings with the Securities and Exchange Commission, including the information identified under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in LKQ’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, available on LKQ’s investor relations website at lkqcorp.com and on the SEC website at www.sec.gov. The forward-looking statements included in this communication are made only as of the date hereof. Forward-looking statements should be considered in light of these risks and uncertainties. Investors and others are cautioned not to place undue reliance on forward-looking statements. LKQ does not undertake any obligation to update any forward-looking statements to reflect subsequent events or circumstances, except as required by law.
Contacts
Joseph P. Boutross
Vice President, Investor Relations
LKQ Corporation
(312) 621-2793