HURST, Texas–(BUSINESS WIRE)–Fenix Parent LLC, operating as Fenix Parts, a leading recycler and reseller of original equipment manufacturer automotive parts, announced today it has completed its acquisition of the assets of Charlie’s Truck & Auto Parts in Tomball, Texas. This is the fifth acquisition completed by Fenix Parts since the company was acquired by affiliates of Stellex Capital Management LP in April 2018.
Charlie’s is a full-service automotive recycling facility servicing the greater Houston market. This acquisition represents Fenix Parts’ second location in Texas and is a key addition to its Southwest supply chain and distribution network.
Bill Stevens, CEO of Fenix Parts, said, “Fenix Parts is a Texas headquartered company and we have been working on expanding our Texas footprint beyond the Dallas-Fort Worth market. The acquisition of Charlie’s is our first step in executing this plan as we develop significant production capacity at this location and expand our total addressable market into Houston. We are excited about our expansion plans into other Texas markets.”
About Fenix Parts
Fenix Parts, Inc. 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, and Southwest 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, Detroit and London, Stellex Capital is a private equity firm with over $2.6 billion in AUM. Stellex seeks to identify and deploy capital in opportunities that have the potential to provide stability, improvement, and growth. Portfolio companies benefit from Stellex’s industry knowledge, operating capabilities, network of senior executives, strategic insight and access to capital. Sectors of particular focus include specialty manufacturing, industrial and business services, aerospace & defense, automotive, and government services. Additional information may be found at www.stellexcapital.com.