Fenix Parent LLC, doing business as Fenix Parts and a recycler and reseller of original equipment manufacturer automotive parts, has acquired the assets of All Foreign Used Auto Parts, Inc. Fenix is a portfolio company of Stellex Capital Management.
All Foreign is an automotive recycling facility in central Ohio; this is Fenix’ first investment in the Midwest. The deal represents Fenix’ strategy of pursuing M&A deal opportunities that align with its strategic development plans.
“We are committed to expanding our footprint beyond Fenix Parts’ established presence in the Northeast, Southeast, and Southwest markets,” added Bill Stevens, Fenix Parts CEO. “The acquisition of All Foreign is our first step towards establishing a Midwest presence as we develop significant production capacity and expand our total addressable market.”