LKQ Corp., the parent company of NTP-Stag, on Monday said its board of directors has initiated a comprehensive review of strategic alternatives. The company is working with advisors to enhance shareholder value by exploring a potential total company sale.
Board Chairman John Mendel said, “The board and management continually evaluate the company’s performance and strategic positioning as part of our responsibility to maximize shareholder returns. Consistent with this commitment, we have initiated a formal review of strategic alternatives to identify the best path forward to unlock value that is not reflected in our current valuation.”
Separately, LKQ Corp. is still evaluating the potential sale of its specialty segment, which includes NTP-Stag.
LKQ Corp. said there is no deadline or definitive timetable for finalizing its plans.
NTP-Stag President Bill Rogers said at its annual Expo trade show that he has been through three acquisitions in his 15-year tenure.
“Our thought is that it offers opportunities,” he said. “We don’t see any changes, or any substantial changes, other than the potential for some good, which would be in the form of investment to grow the business more.”
