Fenix Parts Completes Acquisition of American & Import Auto Parts
Summary
Bill Stevens, CEO of Fenix Parts, said, “We are pleased to announce the acquisition of American and look forward to working with the well-trained and experienced staff. This acquisition expands our distribution footprint into the metro Detroit area and will leverage our significant production capacity in the Midwest region. I want to give a special welcome to the team at American, we sincerely look forward to working with you.” Fenix Parts continues to pursue opportunities that align with its strategic development plans. 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. Portfolio companies benefit from Stellex’s industry knowledge, operating capabilities, network of senior executives, strategic insight, and access to capital.