Quantcast
Jump to content

DIY like a pro! Shop from over 1,000,000 Repair Manuals at eManualOnline.com! As low as $14.99 per manual. Shop now.


DIY like a pro! Shop from over 1,000,000 Repair Manuals at eManualOnline.com! As low as $14.99 per manual. Shop now.


DIY like a pro! Shop from over 1,000,000 Repair Manuals at eManualOnline.com! As low as $14.99 per manual. Shop now.

  • Welcome to Auto Parts Forum

    Whether you are a veteran automotive parts guru or just someone looking for some quick auto parts advice, register today and start a new topic in our forum. Registration is free and you can even sign up with social network platforms such as Facebook, Twitter, Google, and LinkedIn. 

     

LKQ Corporation Announces Agreement to Acquire Stahlgruber GmbH


APF
 Share

Recommended Posts

LKQ Corporation Announces Agreement to Acquire Stahlgruber GmbH

 
December 11, 2017
link hidden, please login to view

CHICAGO, Dec. 11, 2017 (GLOBE NEWSWIRE) -- LKQ Corporation (Nasdaq:LKQ) has signed a definitive agreement to acquire Stahlgruber GmbH (“Stahlgruber”) from Stahlgruber Otto Gruber AG for an enterprise value of approximately €1.5 billion. Headquartered in Germany, Stahlgruber is a leading European wholesale distributor of aftermarket spare parts for passenger cars, tools, capital equipment and accessories with operations in Germany, Austria, the Czech Republic, Italy, Slovenia, and Croatia with further sales to Switzerland. Stahlgruber’s facilities include 228 sales centers, six warehouses, and an approximately 128,000 square meter advanced logistics center that is strategically located in Germany, serving more than 100,000 professional clients and offering over 500,000 SKUs.

LKQ expects to complete the transaction late in the first quarter or early in the second quarter of 2018, subject to required regulatory approvals.

“This transformative acquisition solidifies LKQ as a leading Pan-European aftermarket mechanical parts distributor, and further enhances our global diversification strategy,” stated Dominick Zarcone, President and Chief Executive Officer of LKQ Corporation. “Stahlgruber has a history of delivering above-market growth and its stellar industry reputation is an ideal fit with our culture; we are extremely proud to welcome the approximately 6,600 Stahlgruber employees to the LKQ family. Importantly, we believe that our combined efforts will create tremendous long-term value for our customers and stockholders and growth opportunities for our collective team members.” 

John S. Quinn, Chief Executive Officer and Managing Director of LKQ Europe, commented: “Stahlgruber will create a contiguous footprint and serve as an additional strategic hub for our European operations, allowing for continued improvement in procurement, logistics and infrastructure optimization. The LKQ Europe management team and I look forward to working with Stahlgruber’s management team and leveraging our combined best practices to maximize the benefits of scale across the continent.”

Heinz Reiner Reiff, Chief Executive Officer of Stahlgruber Otto Gruber AG, commented: “This combination is a natural fit for both LKQ and Stahlgruber. I am very excited about the meaningful benefits that will occur by combining our complementary cultures and industry leading management, which together position Stahlgruber to achieve the continued growth of its European businesses. Our acceptance of LKQ shares as part of the consideration emphasizes our belief in the value of this combination.”

Stahlgruber’s 2017 annual revenue is estimated to be approximately €1.6 billion. LKQ expects the transaction to be accretive to its adjusted diluted earnings per share during the first year after the closing. These projected results exclude amortization of acquired intangibles, restructuring and acquisition related expenses.

LKQ intends to finance the acquisition with the proceeds from planned debt offerings, borrowings under its existing revolving credit facility and the direct issuance to Stahlgruber’s owner of 8,055,569 newly issued shares of LKQ common stock. As of December 1, 2017, LKQ had approximately $1.4 billion of available borrowing capacity under its recently amended credit facility.

Bank of America Merrill Lynch and Credit Suisse are acting as financial advisors, Baker McKenzie (Germany) is acting as M&A counsel, and K&L Gates (Chicago) is acting as U.S. securities counsel, to LKQ Corporation. Deutsche Bank is serving as the exclusive financial advisor, and Hengeler Mueller is providing legal counsel, to Stahlgruber’s owner.

Non-GAAP Financial Measures

Management’s presentation on the conference call will refer to non-GAAP financial measures within the meaning of Regulation G promulgated by the Securities and Exchange Commission. Included with management’s presentation are reconciliations of each non-GAAP financial measure with the most directly comparable financial measure calculated in accordance with GAAP.

Conference Call Details

LKQ will host a conference call and webcast on December 11, 2017 at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) with members of senior management to discuss the pending acquisition of Stahlgruber. To access the investor conference call participants may dial (844) 579-6824 or for international access (763) 488-9145 and reference conference ID 9595099.

Webcast and Presentation Details

The audio webcast and accompanying slide presentation can be accessed at www.lkqcorp.com in the Investor Relations section.

A replay of the conference call will be available by telephone at (404) 537-3406 or (855) 859-2056 for international calls. The telephone replay will require you to enter conference ID: 9595099#. An online replay of the audio webcast will be available on LKQ’s website. Both formats of replay will be available through December 29, 2017. Please allow approximately two hours after the live presentation before attempting to access the replay.

About LKQ Corporation

LKQ Corporation (

link hidden, please login to view
) 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 replacement systems, components, equipment and parts to repair and accessorize automobiles, trucks, and recreational and performance vehicles.

Forward Looking Statement

Statements and information in this press release that are not historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are made pursuant to the “safe harbor” provisions of such Act.

Forward-looking statements include, but are not limited to, statements regarding our outlook, guidance, expectations, beliefs, hopes, intentions and strategies. These statements are subject to a number of risks, uncertainties, assumptions and other factors including those identified below.  All forward-looking statements are based on information available to us at the time the statements are made. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

You should not place undue reliance on our forward-looking statements. Actual events or results may differ materially from those expressed or implied in the forward-looking statements. The risks, uncertainties, assumptions and other factors that could cause actual results to differ from the results predicted or implied by our forward-looking statements include, among others, the expected timetable for completing the transaction; the receipt of regulatory approvals for the transaction without unexpected delays or conditions; the failure to realize, or delays in realizing, growth projections, synergies and cost-savings from the transaction; competitive responses to the transaction; and other factors discussed in our filings with the SEC, including those disclosed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2016 and in our subsequent Quarterly Reports on Form 10-Q. These reports are available on our investor relations website at lkqcorp.com and on the SEC website at sec.gov.

Joseph P. Boutross-LKQ Corporation
Director, Investor Relations 

link hidden, please login to view

(312) 621-2793

link hidden, please login to view

 

Source: LKQ Corporation
Link to comment
Share on other sites


Shop AutoPartsToys.com for all Your Car, Truck and SUV Accessories at Direct Factory Warehouse Pricing


Shop AutoPartsToys.com for all Your Car, Truck and SUV Accessories at Direct Factory Warehouse Pricing


Shop AutoPartsToys.com for all Your Car, Truck and SUV Accessories at Direct Factory Warehouse Pricing

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

  • Similar Topics

    • By OReilly Auto Parts
      SPRINGFIELD, Mo., July 01, 2022 (GLOBE NEWSWIRE) -- O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, announces the release date for its second quarter 2022 results as Wednesday, July 27, 2022, with a conference call to follow on Thursday, July 28, 2022.

      link hidden, please login to view
    • By Counterman
      Arnold Motor Supply has officially opened its new Lincoln, Nebraska, location at 2811 W O St.
      Lincoln residents are most likely familiar with the West O location and its roots dating back to the early 1980s as Snow Auto Supply. Joe H. Snow served as a colonel in the U.S. Air Force for 28 years before starting the family business. His son Spencer continued the legacy in 1998 and has been managing the store for the past 25 years.
      “We’ve wanted to enter the Lincoln market for many years and have had a long relationship with Spencer Snow,” said Eric Johnson, president and managing partner at Arnold Motor Supply. “We’re excited to bring our automotive and commercial vehicle focus to the location while continuing the strong paint and refinish capabilities Snow Auto Supply has always provided the community,”
      Arnold Motor Supply entered into agreement with Snow Auto Supply and officially purchased the business earlier this month. The store has an extensive selection of replacement parts for automotive, heavy-duty trucks, collision (including PPG refinish paint), agriculture and fleet applications.
      “We also have the advantage of daily deliveries from our distribution centers and surrounding stores,” added Mike Molle, vice president of store operations at Arnold Motor Supply. “Having a readied supply of parts ensures that whether you’re a DIYer or professional repair shop, we’re going to get you the parts you need.”
      Customers can visit
      link hidden, please login to view link hidden, please login to view to shop a full selection of parts, tools and supplies, or stop by the store from 7:30 a.m. to 6 p.m. Monday through Friday and from 7:30 a.m. to 5 p.m. on Saturdays. The post
      link hidden, please login to view appeared first on link hidden, please login to view.
      link hidden, please login to view
    • By Counterman
      NGK Spark Plugs (U.S.A.) Inc. has announced two promotions with its leadership team.
      Franchelle Thomas has been promoted to director of culture, communication and people, filling a recently vacated position. Paul Abbott has been promoted to director of corporate strategy, planning and administration.
      Thomas previously was the general manager of human resources NGK Spark Plugs (U.S.A.), Inc., and will add to her responsibilities Human Resources strategies for NTK Technologies and NGK Canada.
      In addition, she will be responsible for driving the company culture and communications of NGK U.S.A. Thomas has been with NGK Spark Plugs for 17 years, holding positions of increasing responsibility.
      Abbott most recently held the position of general manager of corporate strategy and planning and will continue to develop business strategies to achieve company goals. In addition, in his new role, he will lead the corporate administration function. Abbott has been with NGK Spark Plugs for 18 months.
      “I am excited to announce the promotions of these highly respected leaders,” said NGK President and CEO Michael Schwab. “The contributions of Franchelle and Paul during their time at NGK have been invaluable, and I know their insight and expertise will be beneficial as they take on these additional areas of responsibility.”
      The post
      link hidden, please login to view appeared first on link hidden, please login to view.
      link hidden, please login to view

    • DIY like a pro! Shop from over 1,000,000 Repair Manuals at eManualOnline.com! As low as $14.99 per manual. Shop now.


      DIY like a pro! Shop from over 1,000,000 Repair Manuals at eManualOnline.com! As low as $14.99 per manual. Shop now.


      DIY like a pro! Shop from over 1,000,000 Repair Manuals at eManualOnline.com! As low as $14.99 per manual. Shop now.

×
  • Create New...