HURST, Texas–(BUSINESS WIRE)–Fenix Parent LLC, operating as Fenix Parts, a leading recycler and reseller of original equipment manufacturer automotive parts, announced today it has completed its acquisition of the assets of Stafford’s Auto Parts in Montgomery, Illinois.
Stafford’s is a full-service automotive recycler servicing the Chicago market. This is Fenix Parts’ seventh acquisition in the Midwest and brings Fenix’s location count to 25 full-service and 5 self-service locations.
Bill Stevens, CEO of Fenix Parts, said, “We are pleased to announce the acquisition of Stafford’s and excited about the addition of its experienced and talented team to the Fenix family. This acquisition continues our Midwest footprint expansion westward and leverages our existing distribution network. With a location servicing the Chicago market, Fenix gains distribution access to the Midwest’s largest metropolitan area and the ability to leverage our 75+ acres of Midwest full-service production capacity.”
Stevens added, “I want to give a special welcome to the Stafford’s team. Stafford’s has been in the auto recycling business for almost half a century, and we are excited to have the team join Fenix to help us continue to grow in the Midwest.”
About Fenix Parts
Fenix Parts 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, Southwest, and Midwest, 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, Pittsburgh, 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 stand to benefit from its operationally focused and hands-on approach to investing. Portfolio companies are supported by Stellex’s industry knowledge, operating capabilities, network of senior executives, strategic insight, and access to capital. Sectors of particular focus include aerospace, defense & government services, transportation & logistics, manufacturing, real economy & business services, food processing and tech-enabled services. Additional information may be found at www.stellexcapital.com.
