9 December 20202 minute read

DLA Piper advises Legacy Acquisition Corporation in de-SPACing in connection with its business combination with Onyx Enterprises

DLA Piper represented Legacy Acquisition Corporation in a de-SPACing process in connection with its previously announced business combination with Onyx Enterprises International Corporation, the owner and operator of, among other verticals, “CARiD.com,” a leading digital commerce platform for the automotive aftermarket.

Onyx has developed a distinctive proprietary technology platform for digital commerce and fulfillment, relying on insights extracted from over 14 billion data points related to car parts, a physical footprint network comprising over 2,500 shipping locations, nearly 5,000 active brands, and machine-learning algorithms for complex fitment industries such as vehicle parts and accessories.

In conjunction with this transaction, the combined company has been renamed PARTS iD, Inc. PARTS iD’s Class A common stock will trade on the NYSE American under the symbol “ID.”

The DLA Piper team was led by partners Gerry Williams (Atlanta) and Penny Minna (Baltimore) and included partners Forrest Neal (Atlanta), Julia Kovacs and Paolo Morante (New York), attorney Sanjay Shirodkar (Washington, DC), and associates Alvin Johnson (Atlanta), Angela Vadala (Atlanta), Brendan Kelly (Baltimore), and Georgia Jolink (Austin).