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Business Tools | Wednesday September 21 LKQ Corporation Acquires Two Aftermarket BusinessesLKQ Corporation has acquired two businesses that operate in the aftermarket collision automotive replacement parts business. Independent Auto Parts is headquartered in Pennsylvania and Mid-State Aftermarket Parts is headquartered in Arkansas.Revenue of these businesses for the twelve months ended December 31, 2004 was approximately $16.6 million. LKQ paid approximately $13.7 million, net of acquired cash, for these two businesses. These businesses have six locations with approximately 120 employees. They serve customers throughout the state of Arkansas, and markets in Tulsa, Memphis, central Pennsylvania and the southeastern portion of New York State. "The territory covered by these businesses significantly expands the aftermarket part markets served by our existing businesses," stated Joseph Holsten, President and CEO. "Through these acquisitions we enter several new market areas with a good base of customers and inventory in place, while positioning our company to enter additional new markets from this expanded base of operations." LKQ Corporation is the largest nationwide provider of recycled OEM automotive replacement parts and related services, with 47 sales and processing facilities, 9 self-service retail automotive parts facilities and 13 redistribution centers that reach most major markets in the United States. In addition, three facilities are located in Central America. LKQ is also one of the largest suppliers in the Midwest of aftermarket collision automotive replacement parts, operating in over 35 locations primarily east of the Mississippi River. ©2005 Collision Repair Industry INSIGHT | FEATURED
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