Icahn Automotive Group (NASDAQ: IEP), which owns and operates leading auto repair and maintenance providers Pep Boys, AAMCO and Precision Tune Auto Care, announced today that it has completed another purchase of auto repair shops.
The undisclosed deal expands its presence in the Southeastern U.S., by 10 locations and more than 100 service bays. Headquartered in Jacksonville, Florida RPM Automotive asserts a reputation for “its exceptional customer service and quality work on all makes and models, including luxury vehicles and large fleets.”
RPM Automotive will retain its name, leadership and ASE-certified technicians. With state-of-the-art technology, comfortable waiting areas, the ability to offer customer conveniences such as rental cars, RPM Automotive is an alternative to a dealership.
“Joining Icahn Automotive is a significant next step for RPM Automotive,” said Colley Stowell, president and founder of RPM Automotive. “We’ll continue to operate seamlessly our shops while beginning to leverage the resources and opportunities that come with joining a large-scale service organization.
Icahn Automotive’s multi-year strategy to increase the breadth and density of its national service network has resulted in the acquisition of independent and franchised locations across the country. By providing both quick-service maintenance as well as full-service repair capabilities, Icahn Automotive wants to capitalize on the growing demand from individuals and fleets for automotive service throughout the vehicle’s life-cycle.
Icahn Automotive Group LLC (Icahn Automotive) was formed by its parent, Icahn Enterprises L.P. (NASDAQ: IEP), to invest in and operate businesses involved in aftermarket parts distribution and service. The businesses claim a singular focus: provide premium automotive parts and services at a great value. Icahn Automotive today consists of Pep Boys® automotive aftermarket retail and service chain (Pep Boys Sold to The Gores Group for $800 Million), Auto Plus® automotive aftermarket parts distributor, Precision Tune Auto Care® owned and franchised automotive service centers, and AAMCO Total Auto Care franchised service centers. The Company also is the licensor of Cottman Transmission and operates under several local brands.
The businesses of Icahn Automotive total more than 22,000 employees, 2,000 company-owned and franchise locations, and 25 distribution centers throughout the US, Canada, and Puerto Rico. For more information: IcahnAutomotive.com.