LKQ Looking for Buyer of Specialty Business

Editor's Note, 11/17 12:30 CT: Another source close to the plan informed FenderBender that the division up for sale is Keystone Automotive Operations, not Keystone Automotive Industries as previously reported. As of this writing, the Reuters article from 11/13 still refers to the sale as being for the Industries division.

LKQ Corp. is planning to sell its specialty parts business and has enlisted investment bankers at Bank of America to facilitate the deal, according to a Nov. 13 report from Reuters. The report notes that Raymond James analysts have previously stated the division could be worth about $1 billion.
The report values LKQ at over $8 billion and notes that "its shares are down roughly 20% over the last 12 months, despite the company's attempts to overhaul its portfolio," and that in August, the company "said it was selling its self-service segment to private equity firm Pacific Avenue Capital Partners for an enterprise value of $410 million."