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12-11-2013, 02:23 PM #1
- Join Date
- Apr 2010
- Piermont,NY, back in Northern NJ now, But may be in IL soon....
This is Very BIG!! LKQ Buys Keystone..
LKQ to acquire Keystone
ABRN Wire Reports
Friday, December 6, 2013 - 08:00
LKQ Corp. has signed a definitive agreement to acquire Keystone Automotive Operations, Inc. for $450 million. The transaction is expected to be completed in the first quarter of 2014 and is subject to customary closing conditions and necessary regulatory approvals.
Established in 1971, Keystone has more than 1,500 employees and 25 locations serving more than 20,000 specialty retailers and equipment installers throughout North America. It offers a broad product line of more than 300,000 SKUs from more than 800 suppliers. Keystone markets products to serve the following six category segments: truck and off-road; speed and performance; recreational vehicle; towing; wheels, tires and performance handling; and miscellaneous accessories.
"LKQ will become a leading player in the specialty aftermarket equipment and accessories business with this acquisition," says Robert L. Wagman, LKQ president and CEO. "In addition, our addressable market opportunity in North America will be significantly expanded. The entire specialty aftermarket equipment and accessories industry is a highly fragmented $31 billion market, and Keystone's current product categories represent
about $5 billion of the industry."
LKQ expects the transaction to be accretive to its earnings in 2014. Keystone's revenue for 2014 is expected to be approximately $700 million with an EBITDA margin of approximately 10 percent. These projected results exclude restructuring and acquisition related expenses.
The company intends to finance the acquisition with borrowings on its revolving credit facility and asset securitization program. As of Sept. 30, 2013, the company had approximately $1.2 billion available from these sources.
- See more at: http://www.searchautoparts.com/abrn/....3Nd4M3g6.dpuf08 Z71 Avalanche Mods to date: K&N CAI,Hellwig Swaybars and End Links, Corsa Sport Exhaust, Superchips Programer,IPCW LOF & 3rd brake light and tails, AMI Gas door,Show Hooks and Door locks, Enkei Wheels, with Pirelli tires, StreetScene Bowties, Grant Steering wheel,Muth signal mirrors,SSBC Big Brake kit,Huskyliner Mug gards,Floor mats and Hood shield, McGard Lug nuts and locks, Bedrug, Cervini's Ram Air hood,35watt HID Fog lights, Sylvania bulbs all around ZXE's Highs and Lows, WhiteNight Back up lights,Sirius and HD Radio, SnugTop sitting on deck now Got a Softopper on now,Tempress Boat Hatches.... New Bilstein shocks are on... New Mods coming soon..... X
12-11-2013, 02:44 PM #2
nice, hopefully the LKQ facility near me will expand, and might need another forklift driver.2012 Chevy Captiva Sport LT V6 (The Spanish Prison)
Cobra 19 Ultra II CB and some generic CB antenna.
55W 10000K HID High Beams (just to remind the wonderful citizens of Hampton that their High Beams are on)
[_] Exhaust [_]Subwoofers [_]More HID's [_]LED's [_]MORE LIGHTS!!! [_]Carr Light Bar w/ 3 or 4 in round off-road lights. [_]Black out Badges [_]Black out exhaust tips [_]Black out imitation skid plates on front and rear [_]Hopefully find a way to keep fogs, low beams, and high beams on at the same time
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