Fenix Parts, Inc. ("Fenix Parts") has been acquired by Stellex Capital Management LP ("Stellex Capital") in partnership with a group of auto industry veterans. Under the terms of the agreement and plan of merger, Fenix Parts stockholders received an amount in cash equal to $0.40 per share of Fenix Parts common stock. The transaction closed on April 18, 2018.
Duff & Phelps served as an independent financial advisor to the board of directors of Fenix Parts and rendered a fairness opinion.
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 Parts was founded in 2014 to create a network that offers sales, fulfillment and distribution in key regional markets in the United States and Canada. The Fenix Parts companies have been in business an average of more than 25 years and currently operate from locations throughout the Eastern U.S. and in Ontario, Canada.
About Stellex Capital
Stellex is a private equity manager that invests in and oversees U.S. and European corporate assets. Stellex’s focus is on middle-market companies going through business or industry transitions, as well as special situation opportunities. Stellex seeks to identify and deploy capital in opportunities that have the potential to provide stability, improvement, and growth for its portfolio companies. For more information please visit: www.stellexcapital.com.