Elite Electronics has been acquired by LKQ Corp. Investment banking firm Transitus Capital served as the exclusive financial advisor to Elite Electronics during the transaction.
Elite Electronics, based in Richardson, Texas, specializes in various automotive diagnostic and repair services. This acquisition launches LKQ into the vehicle services market, converging LKQ's industry leading parts and distribution business with Elite's services to further facilitate customers' needs.
LKQ Corp. owns Keystone Automotive Operations.
Based in the Dallas/Ft. Worth metroplex and currently providing services in 13 states, Elite Electronics has significant growth and expansion plans, according to the company.
“From Elite's very beginning, we knew great things would evolve,” said Don Smith, founder and former owner of Elite Electronics. “The acquisition by LKQ will advance and accelerate that evolution to provide a superior service solution for the industry, and working with Transitus Capital was an absolute pleasure as they guided our team through a complex process to a successful outcome, exceeding all of our expectations. We simply couldn't have done this without them."
Elite Electronics' technical solutions are both mobile and on-site and are provided to automotive collision and mechanical repair facilities that are facing the rapidly expanding vehicle diagnostics and calibration marketplace. Re-flashing, programming, pre- and post- collision repair diagnostics, ADAS related calibrations, air bag replacements, theft and vandalism repair, frame replacements and full mechanical services are among the services Elite provides.