United States. Fenix Parts announced that it has completed the acquisition of Neal Auto Parts' assets in Peoria, Illinois. Fenix Parts was acquired by subsidiaries of Stellex Capital Management LLC in April 2018.
Neal is an auto recycler serving the central Illinois market with a population of approximately 1.3 million people. This is Fenix Parts' eighth acquisition in the Midwest and brings the number of Fenix locations to 27 full-service and five drive-thru locations.
Bill Stevens, CEO of Fenix Parts, said, "We are pleased to announce the acquisition of Neal and are excited to add their experienced and talented team to the Fenix family. This acquisition continues the expansion of our Midwest presence westward, in close proximity to our Chicago location and new Indianapolis hub, and gives us the opportunity to leverage our more than 85 acres of full-service production capacity in the Midwest."
"I want to extend a special welcome to Neal's team. Neal has been in the auto recycling business for nearly 75 years and we're excited to have the team join Fenix to help us continue to grow in the Midwest," added Stevens.
