LKQ Corporation is a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles. The company upholds a commitment to quality, catering to diverse customer needs across the automotive sector. With operations in North America, Europe, and Taiwan, LKQ Corporation serves a broad international market with a multitude of automotive parts and services.
One question that frequently arises is “what companies does LKQ own?” The answer is that LKQ has significantly expanded its brand portfolio and global operations through a series of strategic acquisitions. These acquisitions have helped LKQ to maintain its position as a leader in the automotive parts industry, while also allowing the company to better serve its customers through a wider range of products and services.
Key Takeaways
- LKQ Corporation serves a broad international market with a multitude of automotive parts and services.
- Acquisitions have significantly expanded LKQ’s brand portfolio and global operations.
- The company upholds a commitment to quality, catering to diverse customer needs across the automotive sector.
LKQ Corporation Overview
LKQ Corporation is a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles. The company was founded in 1998 and is headquartered in Chicago, Illinois. LKQ is publicly traded on the NASDAQ stock exchange under the ticker symbol “LKQ”.
With over 43,000 employees worldwide, LKQ has operations in North America, Europe, and Taiwan. The company has over 1,700 locations across 30 countries, making it one of the largest providers of alternative and specialty parts in the world.
In North America alone, LKQ has over 1,100 locations. The company’s operations in Europe are also significant, with over 400 locations across the continent. LKQ’s operations in Taiwan are relatively small, with just a few locations.
LKQ’s primary focus is on the automotive industry, but the company also provides specialty parts for other types of vehicles, including boats and motorcycles. The company’s product portfolio includes mechanical parts, body parts, and accessories.
Overall, LKQ Corporation is a major player in the alternative and specialty parts industry, with a significant presence in North America and Europe. With a large and diverse product portfolio, the company is well-positioned to continue its growth in the years to come.
Subsidiaries and Brands
LKQ Corporation is a global leader in the distribution of aftermarket auto parts. The company owns and operates a diverse range of subsidiaries and brands across North America, Europe, and Taiwan. Here are some of the subsidiaries and brands owned by LKQ Corporation.
North American Operations
LKQ North America is the largest subsidiary of LKQ Corporation. It operates across the United States and Canada, with over 600 locations. LKQ North America is divided into three segments: Collision, Mechanical, and Paint, Body and Equipment (PBE). LKQ Pick Your Part Collision Self-Service is another subsidiary that operates across the United States. It specializes in self-service auto parts.
Keystone Automotive Industries is a subsidiary of LKQ North America. It operates across the United States and Canada, with over 300 locations. Keystone Automotive Industries specializes in the distribution of specialty automotive equipment and accessories.
European Operations
LKQ Europe is the second-largest subsidiary of LKQ Corporation. It operates across the United Kingdom, Germany, Belgium, the Netherlands, Italy, the Czech Republic, Austria, Poland, and Slovakia. LKQ Europe is divided into two segments: Car Parts and Services. Euro Car Parts is a subsidiary of LKQ Europe that operates across the United Kingdom. It specializes in the distribution of car parts and accessories.
Stahlgruber is another subsidiary of LKQ Europe. It operates across Germany, Austria, and the Czech Republic. Stahlgruber specializes in the distribution of automotive spare parts and accessories.
Rhiag is a subsidiary of LKQ Europe that operates across Italy, Switzerland, and Eastern Europe. Rhiag specializes in the distribution of automotive spare parts and accessories.
Other Global Entities
LKQ Taiwan is a subsidiary of LKQ Corporation that operates across Taiwan. It specializes in the distribution of automotive spare parts and accessories.
Elite Electronics and Elitek are subsidiaries of LKQ Corporation that specialize in the distribution of electronics and technology products.
Overall, LKQ Corporation has a strong global presence, with subsidiaries and brands operating across multiple countries. The company’s strategic acquisitions have allowed it to tap into various segments of the auto parts market.
Products and Services
LKQ Corporation is a global distributor of vehicle products, including replacement parts, components, and systems used in the repair and maintenance of vehicles and specialty products and accessories to improve the performance, functionality, and appearance of vehicles. LKQ Corporation serves a broad international market with a multitude of automotive parts and services. The company upholds a commitment to quality, catering to diverse customer needs across the automotive sector.
Aftermarket Parts
LKQ Corporation offers a wide range of high-quality aftermarket parts for vehicles. These parts are designed to meet or exceed OEM specifications and are made by reputable manufacturers. LKQ’s aftermarket parts include replacement systems, accessories, and performance parts for a variety of vehicles.
Collision Repair Parts
LKQ Corporation is a leading provider of collision repair parts, including hoods, fenders, lights, bumper assemblies, and other sheet metal products. The company offers a vast selection of high-quality OEM and aftermarket parts to meet the needs of collision repair shops and individuals.
Specialty Products
LKQ Corporation offers a range of specialty vehicle aftermarket equipment and parts to improve the performance and functionality of specialty vehicles. These products include RV parts and accessories, specialty parts for performance vehicles, and other specialty parts to enhance the appearance and functionality of vehicles.
Mechanical Parts
LKQ Corporation provides a broad range of mechanical parts, including engines, transmissions, door assemblies, and trunk lids. These parts are designed to meet or exceed OEM specifications and are made by reputable manufacturers. LKQ’s mechanical parts are available for a wide range of vehicles and are designed to provide reliable performance and long-lasting durability.
Overall, LKQ Corporation is committed to providing high-quality products and services to its customers. The company’s broad range of products and services includes replacement parts, components, and systems used in the repair and maintenance of vehicles, as well as specialty products and accessories to improve the performance, functionality, and appearance of vehicles.
Recycling and Remanufacturing
LKQ Corporation is committed to sustainability and green initiatives, and recycling and remanufacturing play a major role in this commitment. They offer a wide range of recycled, refurbished, and remanufactured products to reduce waste and minimize environmental impact.
Recycled Parts
LKQ Corporation is the leading provider of recycled auto parts in North America, Europe, and Taiwan. They offer an extensive inventory of recycled OE (original equipment) parts, including door assemblies, mirrors, head and tail lamps, bumper assemblies, fenders, hoods, wheels, and more. By using recycled parts, customers can save money while also reducing their carbon footprint.
Remanufactured Components
LKQ Corporation also offers remanufactured components, which are products that have been disassembled, cleaned, and rebuilt to meet OE specifications. This process extends the life of the product and reduces the need for new manufacturing, which in turn reduces waste and energy consumption. Some of the remanufactured components offered by LKQ Corporation include engines, transmissions, and steering racks.
Overall, LKQ Corporation’s commitment to sustainability and green initiatives is evident in their extensive inventory of recycled, refurbished, and remanufactured products. By offering these products, they are helping customers reduce waste and minimize their environmental impact while also saving them money.
Customer and Market Focus
LKQ Corporation serves a broad international market with a multitude of automotive parts and services. The company upholds a commitment to quality, catering to diverse customer needs across the automotive sector. LKQ’s customers include collision and mechanical repair shops, auto dealerships, and individual vehicle owners.
The company’s focus on quality has helped it gain a reputation as a trusted provider of replacement parts, components, and systems for automobiles and trucks. LKQ’s wide selection of mechanical and collision parts has made it a go-to source for vehicle repair and maintenance needs.
LKQ’s sales are driven by its commitment to customer satisfaction and its ability to offer cost-effective solutions for vehicle repair and maintenance. The company’s market focus is on providing high-quality, affordable parts and services to customers across the globe.
In addition to its mechanical and collision parts business, LKQ also offers specialty products and accessories to improve the performance, functionality, and appearance of vehicles. These products include aftermarket lighting, performance upgrades, and custom wheels.
Overall, LKQ’s customer and market focus is on providing a wide range of high-quality parts and services to customers in the automotive sector. The company’s commitment to quality and customer satisfaction has helped it become a leading provider of replacement parts, components, and systems for automobiles and trucks.
Strategic Acquisitions and Partnerships
LKQ Corporation has been able to expand its market share and grow its business through strategic acquisitions and partnerships. The company’s growth strategy has been centered around acquiring companies that complement its existing business lines and expanding into new markets.
Significant Acquisitions
One of LKQ Corporation’s most significant acquisitions was Pittsburgh Glass Works (PGW), a leading distributor of auto glass and related products. The acquisition of PGW in 2016 allowed LKQ to expand its product offerings and become a dominant player in the auto glass market.
Another notable acquisition was the purchase of distributor PBE in 2015. PBE was a leading distributor of automotive paint and body supplies, and the acquisition allowed LKQ to expand its presence in the collision repair market.
In addition, LKQ has made several acquisitions in the online collision market, including Platinum Pro Collision and LKQ Online Collision. These acquisitions have allowed LKQ to expand its online presence and provide customers with a convenient way to purchase auto parts.
Key Partnerships
In addition to its acquisitions, LKQ has also formed key partnerships with other companies in the industry. For example, the company has partnered with Platinum Equity to acquire aftermarket auto parts supplier Keystone Automotive Operations. This partnership has allowed LKQ to expand its product offerings and provide customers with a wider range of auto parts.
LKQ has also formed partnerships with several insurance companies, including Allstate and Nationwide. These partnerships have allowed LKQ to become a preferred supplier of replacement parts for insurance claims.
Overall, LKQ’s strategic acquisitions and partnerships have allowed the company to expand its market share and become a dominant player in the automotive parts industry.
Company Milestones and Achievements
LKQ Corporation has grown significantly since its founding in 1998, with a number of significant milestones and achievements along the way. Here are some of the key highlights:
Fortune 500
In 2019, LKQ Corporation was ranked #309 on the Fortune 500 list of the largest United States corporations by total revenue. This is a testament to the company’s continued growth and success in the automotive parts industry.
Nashville, Tennessee
In 2019, LKQ Corporation opened a new facility in Nashville, Tennessee. This 100,000 square foot facility is the largest distribution center in the Nashville area, and it serves as a hub for LKQ’s aftermarket and recycled automotive parts business in the region.
History
LKQ Corporation was founded in 1998 by Donald Flynn, with the purchase of Triplett Automotive Recycling in Akron, Ohio. Since then, the company has grown through a series of strategic acquisitions and expansions, becoming the largest supplier of used auto parts in the United States.
Milestones
Over the years, LKQ Corporation has achieved a number of notable milestones. In 2003, the company went public, trading on the NASDAQ stock exchange under the symbol LKQ. In 2010, LKQ acquired ATK Vege Engines and Yamato, following the acquisition of Proformance in the same year. In 2016, LKQ acquired Pittsburgh Glass Works (PGW), the leading global manufacturer of automotive glass products. And in 2019, LKQ opened its new facility in Nashville, Tennessee.
Overall, LKQ Corporation has a long history of growth and success in the automotive parts industry. With a strong focus on innovation, customer service, and strategic acquisitions, the company is well-positioned to continue its upward trajectory in the years to come.
Self-Service Options
LKQ Corporation offers a range of self-service options for customers looking to save money on auto parts. LKQ Pick Your Part Collision Self-Service is a popular option for those looking to find quality used parts for their vehicles. With locations across the United States, customers can easily find a store near them.
In addition to LKQ Pick Your Part Collision Self-Service, the company also offers self-service retail options. These stores provide a wider range of products, including new and used parts, as well as accessories and tools. Customers can browse the inventory and find the parts they need at a fraction of the cost of buying new.
One of the benefits of using LKQ’s self-service options is the ability to save money on auto repairs. By purchasing used parts, customers can save up to 80% off the cost of new parts. This can be especially helpful for those with older vehicles or those looking to do repairs themselves.
Another benefit of using LKQ’s self-service options is the environmental impact. By reusing and recycling parts, the company is helping to reduce waste and conserve resources. This is an important consideration for those looking to make more sustainable choices.
Overall, LKQ Corporation’s self-service options provide a cost-effective and environmentally friendly way to find quality auto parts. Whether you’re looking for a specific part or just browsing, these stores offer a range of products to meet your needs.
Financial Performance
LKQ Corporation has been a Fortune 500 company since 2011, and its financial performance has been impressive. In 2022, the company reported a revenue of $15.9 billion, which is a 6.8% increase from the previous year. The company’s net income for 2022 was $721 million, which is a 10.9% increase from the previous year.
The company’s sales in North America were $11.7 billion, while its sales in Europe were $4.2 billion. LKQ Corporation has been expanding its market share globally, and its revenue growth is a testament to its success.
LKQ Corporation has been able to maintain its financial performance by expanding its operations and acquiring new companies. The company has made strategic acquisitions in the past, which has allowed it to venture into fragmented parts of the industry and become a dominant player in the automotive parts space.
Overall, LKQ Corporation’s financial performance has been strong, and the company has been able to maintain its position as a leader in the automotive parts industry.
