U.S. News: Recycled OEM Parts Player Enters Aftermarket

LKQ Corp., the largest U.S. provider of recycled OEM automotive replacement parts, today announced that it has acquired Global Trade Alliance, Inc., one of the largest suppliers of aftermarket collision automotive replacement parts in the Midwest. GTA operates primarily under the trade names Action Crash Parts and Midwest Fender.
Global Trade Alliance’s revenue for the twelve months ended January 31, 2004 was approximately $42.5 million. GTA operates over 20 locations serving 15 states primarily east of the Mississippi River. GTA has over 300 employees. LKQ paid $30 million for the acquisition, $1.5 million of which was in LKQ common stock and the balance of which was in cash and assumed debt. All figures in U.S. dollars.
LKQ also announced that it completed a new credit facility effective February 17, 2004. The $75 million unsecured revolving credit facility is with Bank of America, N.A., LaSalle Bank National Association, Bank One, N.A. and National City Bank and replaces its previous secured credit facility.