Pacific Avenue affiliate completes Pick Your Part acquisition from LKQ

An affiliate of Pacific Avenue has completed the acquisition of Pick Your Part from LKQ Corporation. PYP is a long-established, environmentally-conscious auto salvage business known for its self-service salvage yards. PYP operates 61 locations across the United States, enabling customers to remove and purchase used auto parts at affordable prices. PYP operates one of the largest networks of self-service salvage yards, serving a broad base of customers seeking cost-effective solutions. The acquisition of PYP is the latest example of Pacific Avenue’s ability to navigate complex transactions and partner with corporate parents to effectively execute seamless carve-outs of non-core business units across a wide variety of industries. Under Pacific Avenue’s stewardship, PYP will focus its efforts on meeting the needs of its customers and driving forward a series of strategic growth initiatives, including actively pursuing add-on acquisitions, to strengthen its leading position. PYP’s existing leadership team will remain in place, continuing to prioritize quality, service, and support to PYP stakeholders across the country. In addition, Robert Wagman and Dom Schiano are expected to become board members of the standalone business.