Icahn Automotive Completes Acquisition of RPM Automotive
05 February 2019 - 4:24AM
Business Wire
Northeast Florida service chain will retain its
well-known brand and continue to operate all locations
Icahn Automotive Group LLC, which owns and operates leading auto
repair and maintenance providers Pep Boys, AAMCO and Precision Tune
Auto Care, announced today that it has completed its acquisition of
RPM Automotive. For Icahn Automotive, the deal expands its presence
in the Southeastern U.S., an important market for the Company, by
10 locations and more than 100 service bays. Headquartered in
Jacksonville, Fla., RPM Automotive has built a reputation on its
exceptional customer service and quality work on all makes and
models, including luxury vehicles and large fleets.
“We are pleased to welcome RPM Automotive to the Icahn
Automotive family of brands,” said CEO Dan Ninivaggi. “Their
outstanding leadership and expert technicians will continue to
provide the leading service and customer experience they’ve come to
be known for, while joining our 2,000 locations and 22,000
technicians in a nearly 100-year tradition of keeping customers’
vehicles on the road.”
RPM Automotive will retain its name, long-time 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 a true
alternative to the dealership.
“For the last decade, RPM Automotive has focused on building and
growing a business our customers trust by hiring and training the
very best technicians in the area and giving back to our local
community,” said Colley Stowell, president and founder of RPM
Automotive. “Joining Icahn Automotive is a significant next step
for 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 both 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 is
well-positioned to capitalize on the growing demand from
individuals and fleets for automotive service throughout the
vehicle’s lifecycle.
Icahn Automotive has also continued to grow through investing in
greenfield and existing locations; by putting a focus on people,
programs, technical training and technology to ensure a superior
customer experience; and by expanding into new and different
service models, including mobile repair and professional tire
installation services to online customers.
About Icahn Automotive
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. Our businesses have 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, 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 over 22,000 employees, over 2,000 company-owned and franchise
locations, and 25 distribution centers throughout the US, Canada,
and Puerto Rico. For more information, visit
IcahnAutomotive.com.
Caution Concerning Forward-Looking Statements
This release contains certain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995, many of which are beyond our ability to control or
predict. Forward-looking statements may be identified by words such
as “expects”, “anticipates”, “intends”, “plans”, “believes”,
“seeks”, “estimates”, “will” or words of similar meaning.
Forward-looking statements are not based on historical facts, but
rather on current expectations and projections about future events,
and are therefore subject to risks and uncertainties which could
cause actual results to differ materially from the future results
expressed or implied by the forward-looking statements. Such
statements are qualified in their entirety by the inherent risks
and uncertainties surrounding future expectations. We undertake no
obligation to publicly update or review any forward-looking
information, whether as a result of new information, future
developments or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20190204005600/en/
Media Contact:Arianna Stefanoni
Sherlock215-430-9142Arianna_sherlock@pepboys.com
Mergers and Acquisitions Contact:Brian
Kaner215-430-9071bkaner@icahnautomotive.com
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