HURST, Texas--(BUSINESS WIRE)--Fenix Parent LLC, operating as Fenix Parts (“Fenix Parts”), a leading recycler and reseller of original equipment manufacturer automotive parts, announced today the closing of the acquisition of the assets of University Auto Recyclers (“University”) in Pensacola, Florida.
University is a full-service automotive recycling facility servicing the Florida panhandle, along with Alabama and Mississippi. This acquisition represents Fenix Parts' third location in Florida and is a key addition to its Southeast supply chain and distribution network.
Bill Stevens, CEO of Fenix Parts, said, “We are pleased to announce the acquisition of University in Pensacola and are excited about the addition of its experienced and talented team to the Fenix family. This acquisition expands Fenix Parts’ Southeast footprint, adding significant production capacity and increasing our total addressable market. I want to give a special welcome to the incredible team at University, we sincerely look forward to working with you.”
Bryan Minchew, owner of University, said, “We are excited for our team to join Fenix Parts. The growth opportunity for employees is endless, and we will be able to serve our customers with even more parts. It’s a win-win for everyone involved.”
Fenix Parts continues to pursue opportunities that align with its strategic development plans. Current auto recycling owners interested in learning more about Fenix’s acquisition process should email firstname.lastname@example.org.
About Fenix Parts
Fenix Parts, Inc. is a leading recycler and reseller of OEM automotive products. The company’s primary business 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 founded in 2014 to create a network that offers sales, fulfillment, and distribution in key regional markets in the United States. Fenix currently operates locations in the Northeast, Southeast, and Southwest and the Fenix companies have been in business for more than 25 years on average.
About Stellex Capital Management LLC
With offices in New York, Detroit and London, Stellex Capital is a private equity firm with over $2.6 billion in AUM. Stellex seeks to identify and deploy capital in opportunities that have the potential to provide stability, improvement, and growth. Portfolio companies benefit from Stellex’s industry knowledge, operating capabilities, network of senior executives, strategic insight and access to capital. Sectors of particular focus include specialty manufacturing, industrial and business services, aerospace & defense, automotive, and government services. Additional information may be found at www.stellexcapital.com