LKQ (NASDAQ: LKQ) completes $410M sale of Pick Your Part unit

Rhea-AI Filing Summary

LKQ Corporation has completed the sale of its Self Service segment, known as “Pick Your Part,” to an affiliate of Pacific Avenue Capital Partners, LLC. The transaction values the business at an enterprise value of $410 million, with the final price subject to customary purchase price adjustments. This move represents a strategic divestiture of LKQ’s self-service auto parts operations to a financial sponsor buyer. The company also issued a press release on October 1, 2025 confirming the closing of the deal.

Insights

Equity research analyst

LKQ closes $410M sale of its Pick Your Part self-service segment.

LKQ Corporation has finalized the divestiture of its Self Service segment, branded as “Pick Your Part,” to an affiliate of Pacific Avenue Capital Partners, LLC. The deal is based on an enterprise value of $410 million, with customary purchase price adjustments, indicating a sizable transaction focused on the self-service auto parts business.

This step simplifies LKQ’s portfolio by carving out an entire segment, which may allow the company to concentrate on its remaining operations, though the excerpt does not describe future strategy or use of proceeds. Because the transaction is framed around enterprise value and customary adjustments, the actual cash impact will depend on final working capital and other closing mechanics.

The company issued a press release dated October 1, 2025 to announce completion of the sale, confirming the transaction has closed rather than being merely agreed. Subsequent disclosures in future company filings may provide more detail on how this divestiture affects revenue mix, margins, and capital allocation.

8-K Event Classification

2 items: 8.01, 9.01

2 items

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Understanding 8-K Material Events →

0001065696false00010656962025-10-012025-10-010001065696lkq:CommonStockParValue.01PerShareMember2025-10-012025-10-010001065696lkq:EuroNotes2031Member2025-10-012025-10-01

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

________________________ 

FORM 8-K

 ________________________ 

Current Report

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 1, 2025

________________________ 

LKQ CORPORATION

(Exact name of registrant as specified in its charter)

_______________________ 

Delaware

001-42002

36-4215970

(State or other jurisdiction of incorporation or organization)

(Commission File Number)

(IRS Employer Identification No.)

5846 Crossings Boulevard

Antioch, Tennessee

37013

(Address of principal executive offices)

(Zip Code)

Registrant's telephone number, including area code: (615) 781-5200

N/A

(Former name or former address, if changed since last report)

 ________________________ 

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

Common Stock, par value $.01 per share

LKQ

The Nasdaq Global Select Market

4.125% Notes due 2031

LKQ31

The Nasdaq Global Select Market

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 October 1, 2025, LKQ Corporation (the “Company”) announced it has completed its previously announced 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 purchase price adjustments.

On October 1, 2025, the Company issued a press release announcing the completion of the sale. 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
99.1						LKQ Corporation Press Release dated October 1, 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: October 1, 2025

LKQ CORPORATION
By:			/s/ Matthew J. McKay
			Matthew J. McKay
			Senior Vice President, General Counsel and Corporate Secretary

FAQ

What major transaction did LKQ (LKQ) report in this 8-K?

LKQ reported that it has completed the sale of its Self Service segment, known as “Pick Your Part,” to an affiliate of Pacific Avenue Capital Partners, LLC.

How much is LKQs Pick Your Part segment valued at in the sale?

The Pick Your Part Self Service segment is valued at an enterprise value of $410 million, subject to customary purchase price adjustments.

Who bought LKQs Self Service (Pick Your Part) segment?

The buyer is an affiliate of Pacific Avenue Capital Partners, LLC, which acquired LKQs Self Service segment under the completed agreement.

When did LKQ complete the sale of its Pick Your Part segment?

The sale was completed and announced on October 1, 2025, which is the date referenced as the event in the report.

Did LKQ issue a press release about the Pick Your Part sale?

Yes. LKQ issued a press release dated October 1, 2025 announcing completion of the sale, which is attached as Exhibit 99.1 to the report.

What exhibits are included with this LKQ 8-K about the sale?

The report includes Exhibit 99.1, the LKQ Corporation press release dated October 1, 2025, and Exhibit 104, the cover page interactive data file.