LKQ Corp. to Acquire NTP Distribution’s Parent
LKQ Corp. announced that it has signed a definitive agreement to acquire Keystone Automotive Operations Inc., parent of NTP Distribution Inc., for $450 million. According to a press release, the transaction is expected to be completed in the first quarter of 2014 and is subject to customary closing conditions and necessary regulatory approvals.
Established in 1971, Keystone has more than 1,500 employees with 25 locations serving more than 20,000 specialty retailers and equipment installers throughout North America, offering a broad product line of more than 300,000 SKUs from more than 800 suppliers. Keystone markets products to serve the following six category segments: truck and off-road; speed and performance; recreational vehicle; towing; wheels, tires and performance handling; and miscellaneous accessories.
“LKQ will become a leading player in the specialty aftermarket equipment and accessories business with this acquisition,” said Robert L. Wagman, president and CEO of LKQ Corporation. “In addition, our addressable market opportunity in North America will be significantly expanded. The entire specialty aftermarket equipment and accessories industry is a highly fragmented $31 billion market, and Keystone’s current product categories represent about $5 billion of the industry.”