Fenix Parts Completes Acquisition of Green Auto Parts & Recycling

Fenix Parent LLC, operating as Fenix Parts ("Fenix Parts" or the "Company"), a leading recycler and reseller of original equipment manufacturer automotive parts, announced today it has completed its acquisition of the assets of Green Auto Parts & Recycling ("Green") in Sun Valley, California. The Company also announced Edgar Akopyan will be joining Fenix Parts as the Director of Business Development, Southern California.

Green is a full-service automotive recycler servicing the Los Angeles market. This is Fenix Parts' first acquisition in California and brings Fenix's location count to 26 full-service and 5 self-service locations.

Bill Stevens, CEO of Fenix Parts, said, "We are pleased to announce the acquisition of Green and excited about the addition of its experienced and talented team to the Fenix family. This acquisition establishes Fenix's footprint on the West Coast with a location strategically servicing the Los Angeles market. The L.A. market has one of the largest MSA's and highest vehicles per household in the U.S. We expect to expand our West Coast geographic reach with additional acquisitions, increasing both full-service production capacity and customer delivery networks."

Stevens added, "I want to give a special welcome to all of the Green professionals and am happy to have Edgar as part of the Fenix Parts' team in Southern California. Edgar has deep, established commercial relationships and he will be leading our growth in this region."

Fenix Parts continues to pursue opportunities that align with its strategic development plans. Current auto recycling owners interested in learning more about Fenix's acquisition process should email [email protected].

About Fenix Parts

Fenix Parts is a leading recycler and reseller of OEM automotive products. The company's primary business is auto recycling, which is the recovery and resale of OEM parts, components, and systems reclaimed from damaged, totaled or low value vehicles. Fenix was founded in 2014 to create a network that offers sales, fulfillment, and distribution in key regional markets in the United States. Fenix currently operates locations in the Northeast, Southeast, Southwest, Midwest and Southern California, and the Fenix companies have been in business for more than 25 years on average.

About Stellex Capital Management LLC

With offices in New York, Detroit, Pittsburgh, and London, Stellex Capital is a private equity firm with over $2.8 billion in AUM. Stellex seeks to identify and deploy capital in opportunities that stand to benefit from its operationally focused and hands-on approach to investing. Portfolio companies are supported by Stellex's industry knowledge, operating capabilities, network of senior executives, strategic insight, and access to capital. Sectors of particular focus include aerospace, defense & government services, transportation & logistics, manufacturing, real economy & business services, food processing and tech-enabled services. Additional information may be found at www.stellexcapital.com.