Acyl-CoA synthetase required for both the import of long chain fatty acids (LCFAs) (C14-C18) and the activation very long chain fatty acids (VLCFAs) (C20-C26) by esterification of the fatty acids into metabolically active CoA-thioesters for subsequent degradation or incorporation into phospholipids. The transport and fatty acyl-CoA synthetase activities are genetically separable and are thus independent activities. Esterifies VLCFAs in the peroxisome matrix. The VLCFAs are actively transported into peroxisomes by a PXA1-PXA2 heterodimeric transporter in the peroxisomal membrane. a very long-chain fatty acid + ATP + CoA = a very long-chain fatty acyl-CoA + AMP + diphosphate The FACS motif is required for catalytic activity and substrate specificity. Belongs to the ATP-dependent AMP-binding enzyme family.