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Slide #2. LKQ Corporation — Rijsbergen Holding B.V., Pala Holding, B.V., Primaparts Automaterialen B.V., BOAC Automotive B.V. and VEAM B.V.
LKQ Corporation (NASDAQ:LKQ)
Rijsbergen Holding B.V., Pala Holding, B.V., Primaparts Automaterialen B.V., BOAC Automotive B.V. and VEAM B.V.
LKQ Corporation (Nasdaq:LKQ) announced that it has signed letters of intent to acquire five Netherlands companies, all of which are customers of and currently serve as distributors for LKQ's Netherlands subsidiary, Sator Holding B.V. The companies are Rijsbergen Holding B.V., Pala Holding, B.V., Primaparts Automaterialen B.V., BOAC Automotive B.V. and VEAM B.V. Our preliminary estimate of the aggregate annual revenue of the five companies (after netting existing sales among the companies and Sator) is approximately $180 million. LKQ is targeting the completion of the transactions in the second or third quarter of 2014.
LKQ is a holding company. Through its subsidiaries, Co. provides alternative vehicle collision replacement products and alternative vehicle mechanical replacement products. Co. is also a provider of alternative vehicle replacement and maintenance products in Germany, the United Kingdom, the Benelux region (Belgium, Netherlands, and Luxembourg), Italy, Czech Republic, Austria, Slovakia, Poland, and various other European countries. In addition to its wholesale operations, Co. operates self service retail facilities across the United States that sell recycled automotive products from end-of-life-vehicles. Co. is also a distributor of specialty vehicle aftermarket equipment and accessories.
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Strong Buy (3.50 out of 4)