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Friday, 21 August 2015 21:10

Fenix Parts Announces Acquisition of Ocean County Auto Wreckers, Inc. in NJ

Fenix Parts, Inc., a recycler and reseller of OEM automotive products, announced on August 18 the acquisition of Ocean County Auto Wreckers, Inc. in Bayville, New Jersey. Founded in 1959, Ocean County is a full-service auto recycling facility and represents Fenix Parts' second location in New Jersey. For the 12 months ended June 30, 2015, Ocean County had revenues of approximately $8.0 million.

Kent Robertson, CEO of Fenix Parts, said, "We are pleased to announce our first acquisition since our IPO and related combination in May as we welcome the Ocean County team to Fenix Parts. Ocean County is a high-quality auto recycler that meets all of our acquisition criteria, with strong leadership and operations adjacent to our existing markets that will expand our distribution, dismantling, warehouse and yard capacity."

Robertson continued, "With the addition of Ocean County, we now have 14 facilities located primarily in the northeastern U.S. and Canada, allowing Fenix to provide customers access to a larger, more diverse inventory and better product availability. We look forward to announcing future acquisitions as we continue to execute our expansion strategy."

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