HURST, Texas--(BUSINESS WIRE)--Fenix Parent LLC, operating as Fenix Parts (“Fenix Parts”), a leading recycler and reseller of original equipment manufacturer automotive parts, announced today it has completed its acquisition of the assets of New England Auto & Truck Recyclers (“NEATR”) in Winchendon Massachusetts. This is the fourth acquisition completed by Fenix Parts since the company was acquired by affiliates of Stellex Capital Management LP in April 2018.
NEATR is a full-service automotive recycling facility servicing the greater New England markets. This acquisition represents Fenix Parts' first location in Massachusetts and is a key addition to its established Northeast supply chain and distribution network.
Bill Stevens, CEO of Fenix Parts, said, “We are thrilled to announce the acquisition of NEATR in Winchendon Massachusetts and are excited about the addition of its experienced and talented team to the Fenix family. This acquisition expands Fenix Parts’ existing footprint in the Northeast region, adding significant production capacity and increasing our total addressable market into New England. I want to give a special welcome to the incredible team at NEATR, we sincerely look forward to working with you.”
Fenix Parts continues to pursue opportunities that align with its strategic development plans. Current auto recycling owners interested in learning more about Fenix’s acquisition process should email info@fenixparts.com.
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.
