PULL-A-PART ACQUIRES THE DAVID J. JOSEPH COMPANY'S U-PULL-&-PAY DIVISION

Acquisition Adds 11 New Locations to Pull-A-Part's U.S. Portfolio and Will Help the Industry Leading Automotive Recycler Provide Even More Customers With Self-Service Used Auto Parts

ATLANTA, Aug. 29, 2022 /PRNewswire/ --  Pull-A-Part, an industry-leading automotive recycler, and operator of 25 do-it-yourself (DIY) used auto parts retail stores and salvage yards, today announced it has acquired U-Pull-&-Pay (UPAP), a wholly-owned subsidiary of The David J. Joseph Company (DJJ) and part of the Nucor family of steel and steel products companies.

This is the largest acquisition in Pull-A-Part's history and an acknowledgement of the company's commitment to growth and expansion in the U.S. Through this acquisition, Pull-A-Part will add 11 locations in the U.S., including its first locations in Colorado, Florida, New Mexico, and Pennsylvania. Pull-A-Part will now operate 36 locations in 16 states nationwide.

"The acquisition of DJJ's U-Pull-&-Pay business unit is a significant milestone in the growth of our business," says Ross Kogon, CEO of Pull-A-Part. "U-Pull-&-Pay has operated their stores with the same commitment to safety, the environment, its customers, and the communities it serves that have helped us succeed, and we are excited to add their team to the Pull-A-Part family."

Pull-A-Part intends to continue to operate U-Pull-&-Pay stores as a separate brand in the markets it serves and will maintain the same dedication to its customers and communities, and will continue to operate the safest, cleanest, and most environmentally friendly facilities in the industry.

"While it was a difficult decision to sell our U-Pull-&-Pay division, we believe the placement of the business with Pull-A-Part offers our teammates a great opportunity to continue growing their careers in the self-serve auto parts business with an industry leader," says Doug Jellison, Nucor Executive Vice President Raw Materials. "We want to thank our U-Pull &-Pay teammates for their dedication to building a successful and safe business, and we wish them much success as they continue their careers under Pull-A-Part's ownership."

Rockefeller Capital Management acted as exclusive financial advisor to Pull-A-Part on the transaction. Arnall Golden Gregory LLP served as legal advisor on the transaction. The terms of the Pull-A-Part acquisition of U-Pull-&-Pay (UPAP) are not disclosed.

For more information on Pull-A-Part, please visit www.pullapart.com. For more information on U-Pull-&-Pay, please visit www.upullandpay.com.

Pull-A-Part is an industry leading automotive recycler and do-it-yourself (DIY) used auto parts retailer headquartered in Atlanta, Georgia. Pull-A-Part opened its first stores in 1997 and today operates 25 self-service used auto parts retail locations and automotive recycling facilities in 12 states nationwide. Pull-A-Part purchases end-of-life vehicles (ELVs) from consumers and other sources which become inventory for its self-service used auto parts stores and ultimately raw materials the company processes for recycling at its facilities. Pull-A-Part also sells used cars at 23 locations in the U.S. The company actively serves the communities it operates in, supporting the people, projects, and causes making a difference at the local level. For more information on Pull-A-Part, please visit www.pullapart.com.

U-Pull-&-Pay is a wholly owned subsidiary of the David J. Joseph Company (DJJ), and part of the Nucor family of steel and steel products companies. Since 1885, DJJ has been an industry leader in safe and sustainable scrap processing and recycling. U-Pull-&-Pay is proud to be part of this recycling process. As a self-service retail used auto parts recycler, U-Pull-&-Pay purchases end-of-life vehicles and offers its customers high-quality automobile parts at a fraction of the retail price. What remains of the vehicles are securely and cleanly shipped to a separate location where they are recycled into the steel that keeps America moving. As an industry leader in self-serve used auto parts, U-Pull-&-Pay is dedicated to serving our customers and communities while operating the safest, cleanest, and most environmentally friendly facilities. For more information on U-Pull-&-Pay, please visit www.upullandpay.com.

Contact: Derick Corbett, [email protected]

SOURCE Pull-A-Part