By CRM Staff
Toronto, Ontario -- April 20, 2018 -- On April 18, Stellex Capital Management acquired recycler and reseller of OEM products, Fenix Parts.Bill Stevens will serve as CEO of the enterprise. Stevens has more than 25 years of experience in the auto recycling industry.
In a discussion on the acquisition, he commented, "We are very excited about this opportunity because there are a number of high quality operators in the company. Together, they create a strong growth opportunity utilizing the Fenix platform moving forward." He added, "Fenix intends to work with independent operator and industry alliances while pursuing initiatives to allow the company to grow both organically and inorganically."
Paul Delaney will be joining Stevens as COO, along with Stoney Rutledge, who take on the position of vice president of purchasing and procurement. All three are former executives of GreenLeaf Auto Recyclers.
Delaney commented, "We are proud to join the Fenix family. Fenix is comprised of best in-class yards run by passionate operators. We believe that Fenix will be very successful as a private company."
Managing partner at Stellex, Michael Stewart, added, "We are thrilled to be investing in this space and to have the opportunity to work with such an experienced operating team. This is a great fit for us given our extensive experience investing across the automotive supply chain."
For more information about Stellex Capital Management, please visit stellexcapitalmanagement.com.