LKQ (LKQ) to divest Pick Your Part segment in $410M sale

Rhea-AI Filing Summary

LKQ Corporation entered into a definitive agreement to sell its Self Service segment, known as “Pick Your Part,” to an affiliate of Pacific Avenue Capital Partners, LLC.

The deal values Pick Your Part at an enterprise value of $410 million, subject to customary post-closing purchase price adjustments. LKQ also issued a press release announcing the agreement, which is included as an exhibit to the report.

Insights

Industrial and M&A analyst

LKQ is divesting its Self Service segment in a $410M deal.

LKQ Corporation has signed a definitive agreement to sell its Self Service segment, “Pick Your Part,” to an affiliate of Pacific Avenue Capital Partners for an enterprise value of $410 million. The transaction is structured with customary post-closing purchase price adjustments, which are standard in asset and business sales.

This move represents a strategic portfolio change, shifting LKQ away from its self-service operations. The filing does not quantify how large Pick Your Part is relative to LKQ’s total business, so the financial impact on revenue and earnings cannot be assessed from this excerpt alone.

Investors may focus on how management later describes the rationale, the closing timeline, and any redeployment of proceeds in future disclosures. The attached press release dated August 26, 2025 is likely to provide additional color on strategy and expected benefits or risks.

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 →

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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): August 25, 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 August 25, 2025, LKQ Corporation (the “Company”) entered into a definitive 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 post-closing purchase price adjustments. On August 26, 2025, the Company issued a press release announcing the entry into the definitive agreement for the sale of Pick Your Part. 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 August 26, 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: August 26, 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) announce regarding its Self Service segment?

LKQ announced a definitive agreement to sell its Self Service segment, known as “Pick Your Part,” to an affiliate of Pacific Avenue Capital Partners for an enterprise value of $410 million, with the final price subject to customary post-closing purchase price adjustments.

Who is buying LKQ (LKQ) subsidiary Pick Your Part and for how much?

An affiliate of Pacific Avenue Capital Partners, LLC is acquiring LKQ’s Self Service segment, “Pick Your Part,” for an enterprise value of $410 million. The amount may be adjusted after closing through standard post-closing purchase price mechanisms described in the agreement.

When did LKQ (LKQ) sign the agreement to sell Pick Your Part?

LKQ signed the definitive agreement to sell its Self Service segment, “Pick Your Part,” on August 25, 2025. The company disclosed the transaction in a current report and followed with a press release dated August 26, 2025 summarizing the announced sale.

What is the enterprise value of LKQ (LKQ) Pick Your Part sale?

The sale of LKQ’s Self Service segment, “Pick Your Part,” to an affiliate of Pacific Avenue Capital Partners is valued at an enterprise value of $410 million. This figure will be subject to customary post-closing purchase price adjustments as specified in the transaction documentation.

Did LKQ (LKQ) provide more details about the Pick Your Part sale?

Yes. LKQ issued a press release dated August 26, 2025 announcing the definitive agreement to sell “Pick Your Part.” That release is attached as Exhibit 99.1, offering additional context beyond the brief transaction summary in the current report.