LKQ Corporation Acquires Transwheel Corporation
True North advised Transwheel Corporation in the sale of the company to LKQ Corporation. The sale was completed on January 31, 2006.
Transwheel Corporation is an aluminum alloy wheel refurbishing and distribution business. The company operates refurbishing and distribution facilities in Huntington, IN; Manchester, CT; Williamsport, MD; and Tampa, FL and distribution locations in the Detroit, MI and Chicago, IL areas. Transwheel’s third party revenue for 2005 was approximately $28.0 million from the sale or restoration of wheels.
LKQ Corporation is the largest nationwide provider of recycled light vehicle OEM products and related services and the second largest nationwide provider of aftermarket collision replacement products. LKQ operates over 100 facilities offering its customers a broad range of replacement systems, components, and parts to repair light vehicles.
Transwheel has been a long-time client of True North. We have provided strategic advice to Transwheel for several years, identified acquisition targets, twice led them through the process of acquisition, and finally advised them in the sale of the company.