Pacific Avenue Capital Partners has agreed to acquire the Self Service segment of LKQ Corporation, known as Pick Your Part, in a transaction valued at $410m.

The deal, subject to customary closing conditions and regulatory approvals, is expected to close in the fourth quarter of 2025.

The transaction marks the outcome of a competitive sale process and represents a strategic move by LKQ to simplify its corporate structure and sharpen its focus on core business areas. Proceeds from the divestment will be directed towards debt repayment.

Justin Jude, President and CEO of LKQ, said: “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.”

He 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.”

Jefferies served as financial advisor, while Wachtell, Lipton, Rosen & Katz acted as legal counsel to LKQ.

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