Notes

Fenix Parts Completes Acquisition Of American & Import Auto Parts
We present a chance to exit the business while persevering with to supply alternatives for the workers and the power to service the customers. It additionally permits us to increase the shopper base that we will service whilst bringing new talent to the Fenix team. Currently, there are three completely different firms working to consolidate within the auto recycling trade; it's the greatest wave of consolidation for the explanation that attempt by LKQ and GreenLeaf some 20 years in the past.
Portfolio corporations profit from Stellex’s industry information, working capabilities, community of senior executives, strategic insight, and access to capital. Sectors of explicit focus embody specialty manufacturing, industrial and enterprise companies, aerospace & defense, automotive, government services, transportation, logistics and meals. Fenix Parts, owned by New York-headquartered private equity firm Stellex Capital Management LLC, is a quantity one recycler and reseller of unique tools producer (OEM) automotive merchandise.

Our commonplace communications embody a monthly newsletter and periodic calls with the CEO on the state of the enterprise. We also have conferences to evaluation KPIs regionally, and the Regional Vice Presidents and Area Directors spend appreciable time on location at each of our services. Fenix standard practices don’t generally tend to stray very removed from what different firms in the industry use.

The only requirement for measurement is that we can agree with the house owners the place we expect the value is mutually helpful. Having all of the places working similarly allows us to usher in assist from other areas if we have initiatives, coaching necessities or to cowl in the occasion of emergencies (like COVID). It additionally makes it straightforward for us to promote junkyard towing staff to positions at different places. When pull a part near me present up at the new job, they don’t have to re-learn the entire course of; they can hit the ground operating. Stevens provides that Stafford’s has been in the auto recycling enterprise for almost half a century. Hurst, Texas-based Fenix Parent LLC, working as Fenix Parts, has completed its acquisition of the assets of Stafford’s Auto Parts, Montgomery, Illinois.
The company’s major enterprise is auto recycling, which is the recovery and resale of OEM parts, components, and systems reclaimed from damaged, totaled or low value vehicles. Fenix was based in 2014 to create a network that provides sales, success, and distribution in key regional markets within the United States. Fenix at present operates places within the Northeast, Southeast, Southwest, and Midwest, and the Fenix firms have been in enterprise for more than 25 years on average. With offices in New York, Detroit and London, Stellex Capital is a non-public fairness agency with over $2.6 billion in AUM. Stellex seeks to establish and deploy capital in alternatives which have the potential to offer stability, enchancment, and growth.
The distinctive part concerning the auto recycling trade is that we function primarily based on product scarcity. Combining locations provides a means more in depth inventory from which to service the client, which is the biggest benefit to clients. The staff also profit from this as a result of even on the largest independent enterprise, there is a ceiling, and you will most likely never get to be the owner. At any bigger company, you might have extra options to grow your career, and there isn’t a ceiling. Bill Stevens, CEO of Fenix Parts, mentioned, “We are pleased to announce the acquisition of All Pro Auto Parts and we're excited concerning the addition of its gifted team to the Fenix family. All Pro is a high-volume auto recycler that meets all of our acquisition criteria.
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