- AutoNation Inc AN has agreed to acquire RepairSmith, a Los Angeles-based full-service mobile solution for automotive repair and maintenance company, for $190 million.
- RepairSmith has a significant operational footprint in the southern and western U.S.
- RepairSmith offers customers the convenience of services and repairs at their home, workplace, or on-site for fleet vehicles.
- AutoNation will utilize RepairSmith as a resource for reconditioning and internal services to increase speed to frontline readiness and expedite vehicle delivery to customers.
- "It expands AutoNation's ability to penetrate the extensive After-Sales service market and conveniently respond to our Customers' needs by broadening the reach of our existing After-Sales network,” said CEO Mike Manley.
- AutoNation held $442.9 million in cash and equivalents as of September 30, 2022.
- Price Action: AN shares are trading higher by 0.98% at $117.38 on the last check Monday.
- Photo Via Wikimedia Commons
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