LKQ Corporation was initially formed in 1998 through the combination of a number of automotive wholesale recycled products businesses located in Florida, Michigan, Ohio and Wisconsin. The company was founded by Donald Flynn on February 13, 1998.
LKQ Corporation formed with three initial acquisitions that included Triplett Auto Recyclers, Damron Auto Parts and Star Auto Parts. As the years progressed, it expanded by internal growth as well as an estimated 270 acquisitions of aftermarket, recycled, refurbished, and remanufactured product suppliers and manufacturers; self service retail businesses; and specialty vehicle aftermarket equipment and accessories suppliers.
In 2003 the company went public on the NASDAQ under the symbol LKQX.
In 2004, LKQ entered the automotive aftermarket parts business with the acquisition of Action Crash Parts. That year, the company also expanded by entering the self serve “you pull it” parts business in Florida and Central America.
In 2007 the company purchased Keystone Automotive. based in Nashville Tennessee. The acquisition gave the company access to an estimated 137 warehouses and 13 depots in 39 states, and also Ontario, Quebec and British Columbia, Canada.
On October 20th, 2011, Keystone Automotive entered the RV industry by aquiring NNorthwest Trailer Parts (NTP).
“This is a terrific example of how Keystone can leverage its strong logistics and distribution capabilities to offer dealers in the RV and hitching and towing industries our unique value proposition,” said Ed Orzetti, President and CEO of Keystone Automotive. “This acquisition rapidly expands our growing customer base and our product portfolio in the RV industry.” Jacob Kotzubei, Partner, Platinum Equity, whose team led the acquisition on behalf of Keystone Automotive, said, “We are delighted to assist Keystone Automotive and its management team execute on their desired diversification and growth plans so quickly after becoming the majority shareholder.”
NTP President Greg Boyd said, “The sale is a positive outcome in our continuing efforts to seek new strategies, new regional markets and additional capital in order to better serve our customers and to stay competitive in our market.” Boyd went on to say that he looks forward to continuing to lead NTP to new opportunities and successes as a part of Keystone.
On October 7, 2014, Justin Jude, president of Keystone Automotive Operations Inc., announced the acquisition of Atlanta-based distributor Stag-Parkway Inc., which at the time was the largest aftermarket wholesale distribution company serving the RV industry.
“LKQ Corp.’s subsidiary Keystone Automotive Operations, Inc. and it’s NTP Distribution business is pleased to announce that it has acquired Stag-Parkway, a distributor of specialty parts in the recreational vehicle market in the U.S. and Canada,” Jude said . “We look forward to welcoming Stag-Parkway’s customers, employees and suppliers to Keystone Automotive. Customers will receive many benefits from this combination as a result of Keystone’s and NTP’s extensive distribution network and depth of inventory.”
On July 9, 2015, Keystone Automotive purchased the last of the thre national RV aftermarket distributors by acquiring The Coast Distribution System. The deal was finalized in Q3 of that same year.
