LKQ Corporation Enters New Services Market with Purchase of Elite Electronics

DALLAS, April 17, 2019 /PRNewswire-PRWeb/ -- Transitus Capital, a leading middle-market investment banking firm, is proud to announce that it served as the exclusive financial advisor to Elite Electronics in the recent acquisition by LKQ Corporation. LKQ Corporation announced on 4/1/2019 that it has acquired all assets of Elite Electronics. Elite, based in Richardson, TX, specializes in various automotive diagnostic and repair services. This acquisition launches LKQ into the vehicle services market, converging LKQ's industry leading parts and distribution business with Elite's services to further facilitate customers' needs.

Based in the Dallas/Ft. Worth metroplex and currently providing services in thirteen states, Elite Electronics has significant growth and expansion plans. Don Smith, founder and former owner of Elite Electronics, stated, "from Elite's very beginning, we knew great things would evolve. The acquisition by LKQ will advance and accelerate that evolution to provide a superior service solution for the industry, and working with Transitus Capital was an absolute pleasure as they guided our team through a complex process to a successful outcome, exceeding all of our expectations. We simply couldn't have done this without them."

Elite Electronics' technical solutions are both mobile and on-site and are provided to automotive collision and mechanical repair facilities that are facing the rapidly expanding vehicle diagnostics and calibration marketplace. Re-flashing, programming, pre- and post- collision repair diagnostics, ADAS related calibrations, air bag replacements, theft and vandalism repair, frame replacements and full mechanical services are among the services Elite provides. The robust service offering assists LKQ's and Elite's customers with typically time-consuming and challenging repairs. Allowing Elite Electronics to handle any number of these operations improves cycle times, associated repair expenses and customer experiences. Added to the service offering is the backing of LKQ's expansive distribution network and inventory strength, along with LKQ's industry leading Promise of Protection – a unique warranty and indemnification program.

About Transitus Capital:

Transitus Capital is a leading middle-market investment bank based in Dallas, TX. Transitus provides M&A advisory to middle-market companies in the healthcare, business services, and manufacturing industries. For more information, please visit http://www.transituscap.com. Securities offered through Burch & Company, Inc. Burch and Transitus Capital are unaffiliated.

 

SOURCE LKQ Corporation

Posted In: Banking/Financial ServicesJoint VenturesFintechPress Releases
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