Keystone News

LKQ Corporation Announces Successful Completion of Tender Offer for The Coast Distribution System, Inc.

Chicago, IL (August 19, 2015) - LKQ Corporation (Nasdaq: LKQ) announced the completion of its tender offer to purchase all outstanding shares of common stock of The Coast Distribution System, Inc. (NYSE MKT: CRV) for $5.50 per share in cash. The tender offer expired at 12:00 midnight Eastern Time at the end of the day on Tuesday, August 18, 2015.

The depositary for the tender offer has advised LKQ that as of the expiration of the tender offer, approximately 4,367,676 shares have been validly tendered and not properly withdrawn in the tender offer (including 59,105 shares tendered through notices of guaranteed delivery), representing approximately 84.04 percent of Coast’s outstanding shares (including 59,105 shares tendered through notices of guaranteed delivery representing approximately 1.14 percent of Coast’s outstanding shares). Accordingly, the minimum tender condition for LKQ’s pending acquisition of Coast has been satisfied. As a result, LKQ accepted for payment in accordance with the terms of the tender offer all shares of Coast common stock that were validly tendered and not withdrawn prior to expiration of the tender offer (including all shares tendered through notices of guaranteed delivery), and payment for such shares will be made promptly. LKQ expects to complete the acquisition of Coast later today through a merger effected pursuant to Section 251(h) of the General Corporation Law of the State of Delaware.


About LKQ Corporation

LKQ Corporation (www.lkqcorp.com) is a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles. LKQ has operations in North America, the United Kingdom, the Netherlands, Belgium, France, Scandinavia, Australia and Taiwan. LKQ offers its customers a broad range of replacement systems, components, equipment and parts to repair and accessorize automobiles, trucks, and recreational and performance vehicles.

Forward Looking Statements

Certain statements in this press release that are not historical facts are forward looking statements that are based on LKQ’s current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described. These forward looking statements generally include expectations, beliefs, hopes, intentions or strategies regarding our future, including statements about the planned completion of the merger. Forward looking statements are subject to risks, uncertainties and other factors some of which are not currently known to us. Actual events or results may differ materially from those expressed or implied in the forward looking statements as a result of various factors. Some of such risks, uncertainties and other factors are described in LKQ’s annual report on Form 10-K for the year ended December 31, 2014 and in subsequently filed quarterly reports on Form 10-Q. We assume no obligation to publicly update any forward looking statement to reflect events or circumstances arising after the date on which it was made, except as required by law.

Recent Articles

COVID-19: How we are responding, a message from our President

 

 

To our trusted suppliers and customers:

 

The unprecedented effects of COVID-19 (coronavirus) are having a tremendous impact on our lives and businesses. The health, safety and wellbeing of our employees, customers and vendors is our primary concern and we are continuing to take actions to mitigate the risks across all our facilities based upon guidance provided by the U.S. Center for Disease Control (CDC), the World Health Organization (WHO), the Occupational Safety & Health Administration (OSHA) and other public health authorities and resources. We continue to expect that all employees and drivers remain vigilant in maintaining proper hygiene habits in addition to social distancing. 

 

Our practices have been enhanced to include more frequent, regular cleaning and disinfecting of delivery vehicle surfaces such as interiors and steering wheels, remote controls on lifts, doorknobs and other areas of the vehicles that are frequently touched. We have also modified travel and in-person meeting policies appropriately and expect our employees stay home if they show symptoms or feel sick.

 

While we are actively monitoring the fluid developments of this situation, we also understand the importance of continuing to serve our customers and support the interests of our suppliers. Many of our customers and suppliers are small and medium-sized, independent businesses and as a vital component of the supply chain, we are remaining true to our mission in the attempt to mitigate the impact on these businesses and their communities.  In the furtherance of this objective, we continue to receive and process orders and maintain deliveries except where limited by government restrictions.

 

We understand the economic realities of this unprecedented situation and their potential impact on our industry and believe that in staying the course, we can limit the disruption to our business partners.  We are confident that this challenge will pass, and we will move forward together.

 

We wish you safety and health and thank you for your continued business.

 

Thank you,

Bill Rogers

eKey App Used by Over 1000 Jobbers
The eKey Mobile App launched early 2019. No more were Jobbers tied to a computer terminal. The app gave the flexibility to access eKeystone tools from anywhere they choose. In addition to Year/Make/Model and VIN barcode reader, Jobbers can use the Smart Search tool they are familiar with from the eKey website. It doesn’t stop there, once the parts are orders on the app, Jobbers can track the status of their delivery truck, ensuring that service schedules can be maintained. The app is available for download on the iTunes App Store and Google Play.
Keystone Automotive Launches Exclusive Interactive Garage Integration
Keystone Automotive Operations, distributor and marketer of automotive aftermarket products and services, has now exclusively integrated Interactive Garage, a virtual custom vehicle build visualizer, into its dealer transactional portal, eKeystone.com.

This new tool allows Trial and Premium subscribers to the eKeystone.com platform a visual sales tool to demonstrate to their customers exactly how their selected parts and accessories will appear on their vehicles prior to purchase and installation.

“It is important to us that we continue to develop enhancements to the eKeystone user experience for our jobbers while providing them with tools designed to assist the sales process and help them grow their businesses,” says Keystone vice president, category management, Larry Montante. “We believe that high-quality services such as Keystone Interactive Garage add significant value to our eKeystone Premium users with an easy-to-use tool that their customers will appreciate.”

Accessed via eKeystone.com, the Keystone Interactive Garage features 38 base vehicles sorted by year make and model, along with their corresponding color options and at launch, features more than 10,000 individual part variations from nearly 90 participating suppliers. Customized builds can be provided to in-store customers as a printout while the parts themselves can be added to the eKeystone cart with a single click.

“We developed Interactive Garage to be the perfect complimentary sales tool for jobbers, dealerships, and accessory manufacturers to provide the best user experience for the ultimate customer: the end consumer,” states Interactive Garage CEO and founder, Ryan Hagel. “Teaming up with Keystone provides our platform significant access into the marketplace that will aid in the acceleration of aftermarket product sales through visual vehicle personalization for users across the U.S. and Canada.”

This addition to the platform is now available and included with eKeystone Premium subscriptions. A customized version is also offered that delivers jobbers the ability to manage their retail pricing, customize the look and feel of the user interface, and incorporate the tool into their own websites.

“We’re receiving a tremendous response to Keystone Interactive Garage from our jobbers as well as our supplier partners,” added Montante. “With new parts being added daily, we will continue to expand the product offerings and with it, the variety of custom build options.”

2019 SEMA Show attendees will have the opportunity to learn more about the Keystone Interactive Garage when they visit the Keystone Booth #21249, while those who will not be attending the show are encouraged to speak to their Keystone representative for more information or visit: http://wwwsc.ekeystone.com/KIG.
Cap-it International partners with Keystone Automotive

EXETER, PA (September 10, 2019) - Today, Andrew Funk, President of Cap-it International, announces a partnership with Keystone Automotive Operations, Inc. as a Designated Supplier of Automotive parts and accessories to its 29 Cap-it Genuine Truckware locations across Canada and the United States.

Previously, Cap-it locations were serviced by Western Warehouse, a Wholesale Distributor of light truck accessories based in Western Canada owned by the Funk family.

“Since our beginning in 1977, Cap-it has been focused on providing an exceptional retail experience to our customers with a selection of light truck, adventure, and power sports accessories that is second to none. We believe this partnership will allow us to accelerate our efforts expanding the Cap-it Brand across North America. With Keystone’s exceptional service and inventory, they are the perfect partner to allow us to focus on growth while at the same time ensuring our franchisees and customers receive the best service possible.”

“We are excited to partner with the Cap-it team. Our mission and values match up nicely with theirs. Hank and Andrew have built an impressive business model focused on providing the best possible customer experience.” said Bill Rogers, President of Keystone Automotive Operations, “We have been servicing the Cap-it locations for many years and we are excited about the opportunity to significantly expand the partnership and enable their growth plans.”

Since 1990, Cap-it® Genuine TruckwareTM has established itself as a world-class retailer of quality truck accessories and camping products. Because Life’s an Adventure®, Cap-it’s 29 stores across North America provide customers and their vehicles lifestyle solutions for both work and recreation.

About Keystone Automotive Operations:

Keystone Automotive Operations is the leading distributor and marketer of automotive aftermarket products and services, uniquely positioned to offer customers and suppliers substantial scale, the most comprehensive inventory selection in the industry, high levels of customer service, and innovative marketing support. Keystone is committed to expanding its offerings to meet the ever-growing needs of its customer base, providing them what they need, when they need it most.

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