Icahn Automotive Group LLC, which owns and operates Pep Boys, AAMCO and Precision Tune Auto Care, announced that it 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.
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. The company recently launched Pep Boys Mobile Crew, a mobile repair unit that will provide on-location maintenance and repair services. The company also announced a broad relationship with Amazon.com to provide professional tire installation services to online customers.