LKQ Corporation explained

LKQ Corporation
Type:Public
Founder:Donald F. Flynn
Location:Chicago, Illinois, U.S.
Key People:Dominick P. Zarcone (president and CEO)
Num Employees:44,000
Num Employees Year:2022
Industry:Auto parts
Revenue: $ 13.866 million[1]
Revenue Year:2023
Subsid:Keystone Automotive
Owner:ValueAct Capital, 7.1%[2]

LKQ Corporation (“Leadership, Know-how, and Quality”) is an American provider of alternative and speciality parts to repair and accessorize automobiles and other vehicles. LKQ has operations in North America, Europe and Taiwan. LKQ sells replacement systems, components, equipment and parts to repair and accessorize automobiles, trucks, and recreational and performance vehicles.[3]

In December 2018, it was #300 on the list Fortune 500.[4] In March 2017, Dominick P. Zarcone was selected to become the new President and Chief Executive Officer.[5]

History

LKQ Corporation was founded by Donald Flynn in February 1998, with the purchase of Triplett Automotive Recycling in Akron, Ohio. Flynn remained chairman of the corporation until his death in October 2011.[6] Since inception, it has greatly expanded, primarily through over 200 acquisitions of used and refurbished auto parts suppliers and manufacturers. Some major acquisitions made by LKQ are Stahlgruber, Rhiag, Euro Car Parts, Fource ADL and others.[7] [8]

In January 2017, LKQ Corporation announced they would be moving their headquarters of North America to Antioch, a suburb of Nashville, Tennessee. They planned to move roughly four hundred employees to the new Antioch headquarters from Illinois and California.[9] The new headquarters officially opened in December 2018.[10]

Presence

The company is represented at a total of 1,684 locations in countries in Europe and North America.

Locations by country[11] (June 2024)!Country!Locations
20
24
30
42
188
146
25
27
3
86
3
53
61
3
11
69
38
270
585
Total1,684

Notes and References

  1. Web site: LKQ-2023.12.31_10K . 2024-06-28 . investor.lkqcorp.com . 40.
  2. https://www.sec.gov/Archives/edgar/data/1065696/000106569621000017/def14a.htm#i92878ffa4cc14fb6af125ac527d779a5_205 2021 Proxy Statement
  3. Web site: LKQ Corporation About, Auto Parts. www.lkqcorp.com. en-US. 2018-01-02.
  4. Web site: LKQ. Fortune. en-US. 2018-12-01.
  5. Web site: LKQ Corporation Announces Leadership Transition. investor.lkqcorp.com. en-CA. 2018-07-27.
  6. News: LKQ founder Donald Flynn dies . 8 April 2015.
  7. Web site: Global Presence . 2022-02-27 . LKQ Corp . en-US.
  8. Web site: LKQ Corporation. Fortune. en-US. 2018-01-02.
  9. News: Freeland sells LKQ headquarters site, adjacent Antioch land for $6.7M. The Tennessean. 2018-01-02. en.
  10. Web site: LKQ Corporation Opens Its New North American Headquarters in Nashville. www.marketwatch.com. 18 December 2018. 1 March 2020.
  11. Web site: Location Finder . 2024-06-25 . LKQ Corp . en-US.