Icahn Automotive Group LLC, which owns and operates leading auto repair and maintenance providers Pep Boys, AAMCO and Precision Tune Auto Care, has entered into a definitive agreement to acquire RPM Automotive.
Headquartered in Jacksonville, Florida, RPM Automotive operates 10 locations with more than 100 service bays throughout the Northeastern part of the state. The deal is subject to customary closing conditions but is expected to close by year-end.
“The acquisition of RPM Automotive complements Icahn Automotive’s existing footprint in the region and will accelerate our growth in an important market for us. RPM Automotive has become a service leader in the Jacksonville area by providing a superior customer experience delivered by expertly trained store managers and technicians. The remarkable growth of RPM Automotive over the past two decades is a testament to the quality of its team members and service model,” said Dan Ninivaggi, CEO of Icahn Automotive.
Throughout 2018, Icahn Automotive has acquired independent and franchised locations in the Northeast, Midwest and South. These additions to the Icahn Automotive portfolio have been integrated under the Pep Boys, AAMCO and Precision Tune brands. Icahn Automotive currently includes more than 2,000 owned and franchised service locations throughout the United States and parts of Canada.
“Icahn Automotive continues to increase the breadth and density of our service center coverage. We’re well-positioned to capitalize on the growing demand for automotive service by individuals and fleets as vehicles become more technologically complex and the vehicle population grows,” said Brian Kaner, president of service for Icahn Automotive. “As a full-service provider under multiple, well-known brands, we can service a vehicle throughout its entire lifecycle, from tires and routine maintenance to complex repairs.”
In addition to acquisitions, Icahn Automotive has continued to invest in greenfield and existing Pep Boys, AAMCO and Precision Tune service locations, and in people, programs, technical training and technology to ensure a superior customer experience. Icahn Automotive recently launched Pep Boys Mobile Crew, a state-of-the-art mobile repair unit that will provide on-location maintenance and repair services. The company also recently announced a broad relationship with Amazon.com to provide professional tire installation services to online customers.