OEM Auto Recycler Fenix Parts Strengthens and Expands Through Partnership with Grade A Auto Parts

HURST, Texas--(BUSINESS WIRE)--Fenix Parent LLC, operating as Fenix Parts ("Fenix " or the "Company"), a prominent recycler and reseller of original equipment manufacturer automotive components, today announced its acquisition of Grade A Auto Parts (“Grade A”), a well-regarded name in the automotive recycling parts sector with a strong presence in the Midwest and Central US. This new partnership strengthens Fenix’s nationwide recycling and distribution infrastructure while adding strong customer support capabilities in a crucial region.

Grade A is based in Louisville, KY with locations in Kentucky, Missouri, Ohio, Tennessee and Indiana, in addition to having sales representatives across the country. The company boasts a dedicated national customer base, which will be supported by the growing cross-country footprint and state-of-the-art operating facilities developed by Fenix.

As part of the transaction, Grade A CEO Sean Garber will be appointed to the Fenix Board of Directors. Garber, who acquired Grade A in 2005, brings 40 years of experience to the Fenix board across multiple industries and will strengthen its cross-sector leadership capabilities.

"I would like to extend a heartfelt welcome to the exceptional team at Grade A Auto Parts. We are thrilled to collaborate with them and add Sean Garber to our Board of Directors,” stated Bill Stevens, CEO of Fenix Parts. "Working with Grade A extends our geographic footprint and improves our capacity to support their customer base, providing greater access to parts throughout the United States. Fenix looks forward to partnering with Grade A’s talented workforce, unique customer relationships, and product offerings to present more choices for our consumers."

Sean Garber added, “The entire Grade A family is excited for strong partnership that maximizes both companies’ strengths, and I am honored to be given the opportunity to serve on the Fenix board with the highly talented board members and management team. This partnership pushes our strong culture forward, expands the Company of Champions and allows us to maximize our mission to achieve a best-in-class customer experience and employee experience. We believe the future is bright and opportunities are endless.”

Fenix Parts continues to pursue potential opportunities that align with its strategic development plans. Current auto recycling owners interested in learning more about Fenix’s acquisition process should email info@fenixparts.com.

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, Midwest and Southern California, 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, London, Pittsburgh and Detroit, Stellex Capital is a private equity firm with over $5 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 insights, 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 http://www.stellexcapital.com