LKQ Corp., SYNETIQ announce strategic European joint venture

LKQ Corporation announced that LKQ Europe has entered into a joint venture with SYNETIQ, an IAA company. LKQ Europe is the leading distributor of automotive aftermarket parts for cars, commercial vans, and industrial vehicles in Europe. LKQ SYNETIQ, the newly named joint venture, will combine LKQ’s distribution reach and data-driven logistics network with SYNETIQ’s market-leading dismantling, reuse and remanufacturing expertise-approximately 27,000 vehicles dismantled annually across four UK sites in 2024. The joint venture is a key building block in the development of LKQ Europe’s salvage channel and its ability to meet future EU Fit-for-55, End-of-Life Vehicle and battery-recycling regulations. It also further enhances SYNETIQ’s strategic goal of maximizing the environmental and financial potential of every vehicle.