Fenix Parts, a subsidiary of Stellex Capital Management based in New York with offices in Ann Arbor, has completed the acquisition of All Foreign Used Auto Parts Inc., a Columbus, Ohio-based automotive parts recycler. This is the first Midwest acquisition for Fenix, which is headquartered in Hurst, Texas.
“We are committed to expanding our footprint beyond Fenix Parts’ established presence in the Northeast, Southeast, and Southwest markets,” says Bill Stevens, CEO of Fenix. “The acquisition of All Foreign is our first step towards establishing a Midwest presence as we develop significant production capacity and expand our total addressable market.”
All Foreign offers used auto parts, used cars, insurance services, and sheet metal. Stevens says the acquisition will add growth to Fenix, which labels auto recycling as its primary business. It recovers and resells OEM parts, components, and systems from damaged, totaled, or low value vehicles.
Fenix was founded in 2014 with a stated goal to create a network that offers sales, fulfillment, and distribution in key regional markets in the U.S. It currently operates in the Northeast, Southeast, Southwest, and now Midwest.
Stellex Capital Management is a private equity firm with more than $2.6 billion in assets under management. Sectors of focus include specialty manufacturing, industrial and business services, aerospace and defense, automotive, and government services.