LKQ Completes Stahlgruber Acquisition, Shares Attractively Valued; Maintaining $43 FVE
Narrow-moat LKQ, which provides aftermarket alternative and specialty parts to repair and accessorize vehicles, closed the acquisition of Stahlgruber at the end of May. Stahlgruber, headquartered in Germany, solidifies LKQ's position as Europe's largest wholesale distributor of automotive aftermarket parts. The closing was one month ahead of our assumed June 30 transaction completion. The additional month of Stahlgruber ownership in our 2018 full-year forecast did not have a meaningful impact on...LKQ is a holding company. Through its subsidiaries, the company provides alternative vehicle collision replacement products and alternative vehicle mechanical replacement products. The company is also a provider of alternative vehicle replacement and maintenance products in the United Kingdom, Germany, the Benelux region (Belgium, Netherlands, and Luxembourg), Italy, Czech Republic, Poland, Slovakia, Austria, and other European countries. In addition to its wholesale operations, the company operates self service retail facilities across the United States that sell recycled automotive products from end-of-life-vehicles. The company is also a distributor of specialty vehicle aftermarket equipment and accessories.
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