FSP Advises LKQ on Acquisition of Majority Stake in LKQ Electriq Limited

FSP advised a subsidiary of NASDAQ-listed LKQ Corporation on its acquisition of a majority stake in LKQ Electriq Limited. The transaction involved LKQ acquiring a majority interest in LKQ Electriq Limited, which previously traded as part of Cedar Garage. LKQ Electriq is the UK’s leading electric vehicle repair specialist and will partner with LKQ to launch the new LKQ Electriq business. As electric vehicles gain market share, LKQ Electriq will provide independent garages and bodyshops with a repair-first solution for electric vehicle batteries and high-voltage components, offering high-quality, cost-effective outsourced support. This will enable independent operators to retain and attract customers by delivering an outsourced repair solution without extensive upfront investment. Cedar Garage owners Matt Copp and Kevin Pearce will continue to lead LKQ Electriq’s specialist team. Prior to the acquisition, Cedar Garage’s electric vehicle repair business was demerged from its wider servicing and repair operations covering all fuel types. FSP represented a subsidiary of NASDAQ-listed LKQ Corporation with a team composed by: Philip Stephenson (Corporate Partner), Rachael Maunder (Corporate Partner), Olivia Vines (Solicitor, Corporate), Thelma Brako (Solicitor, Corporate), Dan Barnhouse (Legal Director, Banking and Finance), Anna Zatouroff (Legal Director, Commercial Property), David Clay (Legal Director, Employment) and Cathrine Ripley (Partner, Commercial, IP and Technology). LKQ Corporation's in-house legal team represented LKQ UK & Ireland with a team composed by: David Hughes (Legal Director, LKQ UK & Ireland).

FSP Advises LKQ on Acquisition of Majority Stake in LKQ Electriq Limited

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