LKQ Corporation and SYNETIQ, an IAA Company Announce Strategic European Joint Venture
LKQ Corporation (Nasdaq: LKQ) has announced a strategic joint venture with SYNETIQ Ltd., an IAA company, forming LKQ SYNETIQ. The partnership combines LKQ Europe's distribution network with SYNETIQ's dismantling expertise, which processes approximately 27,000 vehicles annually across four UK sites.
The joint venture aims to enhance LKQ Europe's salvage channel capabilities and comply with future EU regulations while advancing SYNETIQ's environmental goals. The venture will be led by SYNETIQ's Michael Hill, LKQ Europe's Annick Jourdenais, and LKQ Atracco's Magnus Tagesson. The collaboration will create a comprehensive catalog combining new aftermarket parts, certified remanufactured parts, and quality-assured recycled parts, particularly focusing on hybrid and EV models.
LKQ Corporation (Nasdaq: LKQ) ha annunciato una joint venture strategica con SYNETIQ Ltd., un'azienda IAA, dando vita a LKQ SYNETIQ. La partnership unisce la rete di distribuzione di LKQ Europe con l'esperienza di smontaggio di SYNETIQ, che gestisce circa 27.000 veicoli all'anno in quattro sedi nel Regno Unito.
L'obiettivo della joint venture è potenziare le capacità del canale di recupero di LKQ Europe e rispettare le future normative UE, promuovendo al contempo gli obiettivi ambientali di SYNETIQ. La gestione sarà affidata a Michael Hill di SYNETIQ, Annick Jourdenais di LKQ Europe e Magnus Tagesson di LKQ Atracco. La collaborazione darà vita a un catalogo completo che combina ricambi nuovi aftermarket, parti rigenerate certificate e ricambi riciclati di qualità, con particolare attenzione ai modelli ibridi ed elettrici.
LKQ Corporation (Nasdaq: LKQ) ha anunciado una empresa conjunta estratégica con SYNETIQ Ltd., una compañía de IAA, formando LKQ SYNETIQ. La asociación combina la red de distribución de LKQ Europe con la experiencia en desguace de SYNETIQ, que procesa aproximadamente 27,000 vehículos anualmente en cuatro ubicaciones en el Reino Unido.
La empresa conjunta tiene como objetivo mejorar las capacidades del canal de salvamento de LKQ Europe y cumplir con futuras regulaciones de la UE, al tiempo que impulsa los objetivos ambientales de SYNETIQ. La gestión estará a cargo de Michael Hill de SYNETIQ, Annick Jourdenais de LKQ Europe y Magnus Tagesson de LKQ Atracco. La colaboración creará un catálogo integral que combina piezas nuevas del mercado de recambios, piezas remanufacturadas certificadas y piezas recicladas de calidad, con un enfoque especial en modelos híbridos y eléctricos.
LKQ Corporation (나스닥: LKQ)가 IAA 계열사인 SYNETIQ Ltd.와 전략적 합작 투자 LKQ SYNETIQ를 발표했습니다. 이 파트너십은 LKQ Europe의 유통망과 연간 약 27,000대 차량을 처리하는 SYNETIQ의 해체 전문성을 결합합니다. SYNETIQ는 영국 내 4개 사이트에서 운영 중입니다.
이번 합작 투자는 LKQ Europe의 구조차 채널 역량을 강화하고 향후 EU 규정을 준수하며 SYNETIQ의 환경 목표를 진전시키는 것을 목표로 합니다. 합작 투자에는 SYNETIQ의 Michael Hill, LKQ Europe의 Annick Jourdenais, LKQ Atracco의 Magnus Tagesson이 이끌 예정입니다. 이 협력은 신품 애프터마켓 부품, 인증된 재제조 부품, 품질 보증 중고 부품을 결합한 종합 카탈로그를 만들며, 특히 하이브리드 및 전기차 모델에 중점을 둡니다.
LKQ Corporation (Nasdaq : LKQ) a annoncé une coentreprise stratégique avec SYNETIQ Ltd., une société IAA, formant LKQ SYNETIQ. Ce partenariat combine le réseau de distribution de LKQ Europe avec l'expertise en démantèlement de SYNETIQ, qui traite environ 27 000 véhicules par an sur quatre sites au Royaume-Uni.
La coentreprise vise à renforcer les capacités du canal de récupération de LKQ Europe et à se conformer aux futures réglementations de l'UE tout en faisant progresser les objectifs environnementaux de SYNETIQ. La direction sera assurée par Michael Hill de SYNETIQ, Annick Jourdenais de LKQ Europe et Magnus Tagesson de LKQ Atracco. Cette collaboration créera un catalogue complet combinant des pièces de rechange neuves du marché secondaire, des pièces remanufacturées certifiées et des pièces recyclées de qualité, en mettant particulièrement l'accent sur les modèles hybrides et électriques.
LKQ Corporation (Nasdaq: LKQ) hat eine strategische Joint Venture mit SYNETIQ Ltd., einem IAA-Unternehmen, bekannt gegeben und bildet LKQ SYNETIQ. Die Partnerschaft verbindet das Vertriebsnetzwerk von LKQ Europe mit der Demontage-Expertise von SYNETIQ, die jährlich etwa 27.000 Fahrzeuge an vier Standorten im Vereinigten Königreich verarbeitet.
Das Joint Venture zielt darauf ab, die Fähigkeiten des Verwertungskanals von LKQ Europe zu verbessern und zukünftige EU-Vorschriften einzuhalten, während es die Umweltziele von SYNETIQ vorantreibt. Die Leitung übernehmen Michael Hill von SYNETIQ, Annick Jourdenais von LKQ Europe und Magnus Tagesson von LKQ Atracco. Die Zusammenarbeit wird einen umfassenden Katalog schaffen, der neue Aftermarket-Teile, zertifizierte überholte Teile und qualitativ geprüfte Recycling-Teile kombiniert, mit besonderem Fokus auf Hybrid- und Elektrofahrzeugmodelle.
- Strategic expansion into vehicle recycling market through joint venture with SYNETIQ
- Access to SYNETIQ's significant dismantling capacity of 27,000 vehicles annually
- Enhanced ability to meet future EU regulations including Fit-for-55 and End-of-Life Vehicle requirements
- Expansion of parts catalog to include recycled and remanufactured components
- Strengthened position in the growing hybrid and EV parts market
- Significant investment required in UK salvage sector
- Complex integration of operations and systems between both companies
- Regulatory compliance costs for EU environmental standards
Insights
LKQ's joint venture with SYNETIQ creates a dominant European recycled auto parts network, strengthening sustainability compliance and market position.
This strategic joint venture between LKQ Europe and SYNETIQ represents a significant advancement in LKQ's European vehicle recycling strategy. By combining LKQ's extensive distribution network with SYNETIQ's specialized dismantling operations (processing approximately 27,000 vehicles annually across four UK sites), the partnership creates a formidable integrated salvage-to-distribution system.
The joint venture addresses three critical business imperatives:
- Regulatory compliance: Positions LKQ ahead of upcoming EU Fit-for-55, End-of-Life Vehicle, and battery recycling regulations
- Competitive differentiation: Creates a unique catalog combining new aftermarket parts, certified remanufactured components, and quality-assured recycled parts
- Market expansion: Enhances access to OEM-exclusive "captive" parts typically withheld from independent aftermarket channels
This partnership significantly strengthens LKQ's vertical integration in Europe, enabling the company to control more of its supply chain while supporting sustainability objectives. For SYNETIQ, the venture accelerates its parts distribution capabilities through LKQ's established networks.
The formation of a dedicated leadership team, including executives from both companies, signals serious commitment to execution. This move reinforces LKQ's position as the dominant aftermarket parts distributor in Europe while preparing for intensifying regulatory requirements around vehicle recycling and sustainability.
Key Step in Europe-wide Vehicle Recycled Parts Strategy
ANTIOCH, Tenn., June 24, 2025 (GLOBE NEWSWIRE) -- LKQ Corporation (Nasdaq: LKQ), today announced that LKQ Europe has entered into a joint venture with SYNETIQ Ltd., an IAA company. LKQ Europe is the leading distributor of automotive aftermarket parts for cars, commercial vans, and industrial vehicles in Europe. SYNETIQ is one of the UK’s leading vehicle salvage, dismantling and recycling companies.
LKQ SYNETIQ, the newly named joint venture, will combine LKQ’s unrivalled distribution reach and data-driven logistics network with SYNETIQ’s market-leading dismantling, reuse and remanufacturing expertise—approximately 27,000 vehicles dismantled annually across four UK sites in 2024. The joint venture is a key building block in the development of LKQ Europe’s salvage channel and its ability to meet future EU Fit-for-55, End-of-Life Vehicle and battery-recycling regulations. It also further enhances SYNETIQ’s strategic goal of maximising the environmental and financial potential of every vehicle.
The joint venture will be led by SYNETIQ’s Dismantling Operations Director, Michael Hill; LKQ Europe’s Senior Project Director Salvage, Annick Jourdenais; and the CEO of LKQ Atracco and MD of LKQ Europe’s Salvage Channel, Magnus Tagesson.
Andy Hamilton, President and Executive Managing Director, LKQ Europe, said: “This joint venture is a major milestone in our mission to put sustainable, affordable mobility within reach of every workshop and body shop in Europe. By combining SYNETIQ’s dismantling and recycled parts expertise with LKQ’s unmatched parts catalogue and logistics footprint, we will give customers genuine choice, reduce the carbon footprint of repair and stay ahead of evolving European regulations. It is further proof that as market leader, we are not standing still but investing to keep our customers one step ahead. We will continue to look at further opportunities to expand this channel across Europe.”
Karl Werner, Chief Business Development Officer, RB Global, added: “Partnering with LKQ allows SYNETIQ to accelerate the flow of quality reused and remanufactured components into UK repair networks. SYNETIQ has long been committed to sustainability, innovation and customer excellence. Together LKQ and SYNETIQ will offer insurers, body shops and workshops a seamless supply of sustainable parts while continuing to support and invest in the UK’s vibrant salvage community with the globally recognized IAA auctions.”
By bringing new aftermarket parts, certified remanufactured parts and quality-assured recycled parts into a single catalogue, LKQ SYNETIQ will offer affordable workshops and body shops, sustainable options for today’s increasingly complex repairs—including hybrid and EV models—and help them access “captive” OEM parts that are withheld from the independent aftermarket. LKQ will continue to acquire salvage vehicles and recycled parts from a variety of sources across Europe to provide the best availability and access to consumers. The additional demand generated by LKQ’s scale will channel fresh investment into the wider UK salvage sector to support and invigorate the industry.
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 OE recycled and aftermarket parts, replacement systems, components, equipment, and services to repair and accessorize automobiles, trucks, and recreational and performance vehicles.
Contacts:
Joseph P. Boutross
Vice President, Investor Relations
LKQ Corporation
(312) 621-2793
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