CarParts.com, Inc. announced that its Board of Directors is exploring strategic alternatives to maximize shareholder value, including a possible sale of the company. This process was initiated in response to inbound strategic inquiries received by the company.
To assist with this evaluation, CarParts.com has engaged Craig-Hallum Capital Group LLC as its financial advisor and Wilson Sonsini Goodrich & Rosati, Professional Corporation as its legal counsel. CEO David Meniane stated that while the company's future as an independent entity is bright, the board is committed to evaluating all options.
The company has not set a timeline for the completion of this exploration and there is no assurance that the process will result in any transaction or other strategic change. CarParts.com does not intend to provide further updates unless definitive agreements are reached or disclosure is legally required.
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