Fenix Parts acquires Fox Auto Parts

Fenix Parent LLC, operating as Fenix Parts, a recycler and reseller of original equipment manufacturer (OEM) automotive parts, says it has completed its acquisition of the assets of Fox Auto Parts in Belleville, Michigan. Hurst, Texas-based Fenix says this is its fifth acquisition in the Midwest and its largest purchase since the company was acquired by affiliates of Stellex Capital Management LLC in April 2018, bringing its total location count to 23 full-service and five self-service locations.

Fox is a full-service and self-service automotive recycler and auto repair facility serving the Detroit, Ann Arbor, and northern Ohio markets.

“This acquisition expands Fenix’s existing footprint in Michigan, adding both full and self-service operations and adds significant production and distribution capacity,” says Bill Stevens, CEO of Fenix Parts. “In aggregate, the Detroit, Ann Arbor and Toledo areas’ population totals 5.4 million, providing significant demand for our parts.”

Stevens adds that Fenix will service customers through the former Fox locations in Belleville, Michigan, and Sterling Heights, Michigan.

Additionally, Bill Fox has been named vice president of Purchasing, and Bob Fox has become Midwest regional vice president at Fenix Parts.

“I want to give a special welcome to the incredible team at Fox,” Stevens says. “Bill and Bob are among the most progressive automotive recyclers and have done an excellent job managing Fox and its industry-leading performance. We look forward to their commitment in adding significant value to Fenix as we continue to grow our business.”

“The Fox family is proud to join the Stellex-sponsored Fenix organization,” Bill and Bob Fox say in a joint statement. “We decided to partner with Fenix because we wanted to ensure that our employees would continue to work for an industry leader. As a top-tier recycler and reseller of OEM automotive products, Fenix has invested significant capital in its employees, infrastructure, logistics and information technology, and our partnership will ensure continued career opportunities for our employees. Our team will look to leverage these investments as they grow with one of the most efficient operators in the industry.”

Fenix was founded in 2014 to create a network that offers sales, fulfillment and distribution of recycled OEM auto parts in key regional markets of the United States. The company operates locations in the Northeast, Southeast, Southwest and Midwest, and Fenix companies have been in business for more than 25 years on average, according to the company.

With offices in New York, Detroit, Pittsburgh and London, Stellex is a private equity firm with over $2.6 billion in assets under management. Stellex says it seeks to identify and deploy capital in opportunities that have the potential to provide stability, improvement and growth.