AutoNation Completes the Acquisition of RepairSmith
Primary automotive retailer and #1 general public vendor group, in accordance to Name, completes acquisition of RepairSmith
Acquisition accelerates determination to being the nation’s most thorough transportation remedies company
FORT LAUDERDALE, Fla., Jan. 26, 2023 /PRNewswire/ — AutoNation, Inc. (NYSE: AN), America’s most admired automotive retailer, now announced it has completed the acquisition of RepairSmith, a complete-services mobile answer for automotive fix and routine maintenance, headquartered in Los Angeles, CA with a significant operational footprint in the southern and western United States.
The acquisition of RepairSmith produces meaningful Following-Product sales organization prospects, together with employing a different channel to give service to AutoNation’s existing Consumer foundation and introduce added car or truck house owners who have bought autos outside the AutoNation supplier network. RepairSmith will serve as a source for reconditioning and internal providers to raise AutoNation’s pace to frontline readiness and expedite car or truck shipping and delivery to Customers.
Mike Manley, CEO of AutoNation, stated, “Aside from the critical end result of incorporating in excess of 400 proficient and dynamic workforce customers, the acquisition of RepairSmith represents a exclusive possibility for us across several factors of the automotive benefit chain. We have in excess of 11 million Shoppers with unique and varied Right after-Product sales requirements. RepairSmith will insert supplemental Consumer-centric and convenient restore and support possibilities for our Buyers – even further strengthening our penetration and loyalty.”
Mr. Manley additional, “The acquisition of RepairSmith accelerates AutoNation’s capability to acquire market share in the non-franchise aftermarket. Buyers who have migrated away from franchised dealerships now have a aggressive, much more handy choice to the standalone maintenance and fix providers. They now have a mobile support remedy backed by the country’s most revered and admired automotive retail team. RepairSmith will incorporate a robust competitive benefit to our AutoNation United states of america preowned small business – which will now be ready to give Immediately after-Revenue services to their Customers that other competition are unable to do. And eventually, we will provide the entire body weight and scale of the AutoNation company to RepairSmith to speed up their progress and achievement.”
“We are enthusiastic to embark on the journey to provide practical car mend with AutoNation. Our shared vision to enhance the lives of persons and their people offers a powerful basis that embodies our collective spirit of innovation and transformation. I am exceptionally proud of all we have designed at RepairSmith. I seem ahead to unlocking even far more benefit as we travel towards a bright upcoming collectively,” claimed Joel Milne, RepairSmith CEO.
Serving to to gasoline its innovation and operational excellence, AutoNation has appointed Christian Treiber as President of Right after-Revenue. Mr. Treiber joined the AutoNation Executive Staff and will lead the After-Product sales workforce, whose objective is to travel the functionality of Immediately after-Income operations by way of continued advancement and implementation of strategic initiatives that more market Customer fulfillment and loyalty though continuing to provide solid final results. Mr. Treiber will also be responsible for integrating the RepairSmith company into AutoNation as element of his part. He will get the job done with Mr. Milne and the management staff to continue on the significant expansion and geographical attain of RepairSmith’s cellular maintenance and routine maintenance enterprise. This accountability consists of producing and leveraging RepairSmith’s distinctive capacity of offering the most Client focused and practical Immediately after-Gross sales presenting in the standalone made use of automobile market place, functioning instantly with the AutoNation Usa management group.
About AutoNation, Inc.
AutoNation, a company of personalised transportation solutions, is pushed by innovation and transformation. As just one of America’s most admired firms, AutoNation delivers a peerless Client practical experience acknowledged by data-driven customer insight leaders, Name and J.D. Electric power. By its bold management and brand affinity, the AutoNation Brand is synonymous with “DRVPNK” and “What Drives You, Drives Us.” AutoNation is committed to staying the nation’s most extensive transportation alternatives service provider with effortless, transparent, and Consumer-centric services.
Remember to check out www.autonation.com, traders.autonation.com, and www.twitter.com/AutoNation, in which AutoNation discloses added information and facts about the Firm, its enterprise, and its outcomes of functions. Remember to also check out www.autonationdrive.com, AutoNation’s automotive web site, for data relating to the AutoNation community, the automotive field, and present automotive news and trends.
Ahead-On the lookout STATEMENTS
This news release consists of forward-on the lookout statements in the indicating of Portion 27A of the Securities Act of 1933, as amended, and Segment 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historic truth are, or may be considered to be, ahead-hunting statements. Phrases such as “anticipates,” “expects,” “intends,” “ambitions,” “targets,” “initiatives,” “strategies,” “thinks,” “continues,” “may well,” “will,” “could,” and versions of this sort of text and equivalent expressions are meant to discover this kind of forward-hunting statements. Statements pertaining to our strategic initiatives, partnerships, or investments, which includes the planned expansion of our AutoNation United states pre-owned vehicle stores, our acquisition of RepairSmith, and our investments in electronic and on the net capabilities, statements regarding our anticipations for the long run functionality of our enterprise and the automotive retail market, and other statements that explain our goals, ambitions, or programs, are ahead-on the lookout statements. Our forward-hunting statements reflect our current anticipations relating to upcoming success and activities, and they require recognized and unknown hazards, uncertainties, and other things that are hard to forecast and may cause our real benefits, efficiency, or achievements to be materially different from any upcoming results, overall performance, and achievements expressed or implied by these statements. These challenges, uncertainties, and other variables contain, among others: our skill to put into practice effectively our strategic initiatives, partnerships, and investments, which includes the planned expansion of our AutoNation Usa stores and our acquisition of RepairSmith our potential to recognize, receive, and develop out appropriate places in a well timed manner our capacity to acquire efficiently our digital and on the web abilities our means to preserve and greatly enhance our retail makes and name and to draw in consumers to our personal electronic channels our capacity to obtain and integrate successfully new franchises limits imposed by motor vehicle producers and our potential to attain manufacturer acceptance for acquisitions financial situations, which include variations in unemployment, desire, and/or inflation prices, purchaser demand, gas price ranges, and tariffs supply chain disruptions and inventory availability new and applied vehicle margins our skill to attain prepared income volumes in our envisioned time frames our means to successfully put into action and retain price controls the achievement and money viability and the incentive and promoting systems of automobile suppliers and distributors with which we maintain franchises the response by federal, point out, and nearby governments and other events to, and the financial impacts of, the COVID-19 pandemic purely natural disasters and other adverse climate activities the resolution of authorized and administrative proceedings regulatory components influencing our enterprise, which includes fuel economic climate necessities the announcement of safety recollects components impacting our goodwill and other intangible asset impairment testing and other variables described in our information releases and filings designed less than the securities regulations, together with, between other people, our Once-a-year Reviews on Form 10-K, our Quarterly Experiences on Variety 10-Q and our Existing Experiences on Form 8-K. Ahead-looking statements contained in this news launch speak only as of the date of this information launch, and we undertake no obligation to update these ahead-looking statements to replicate subsequent occasions or conditions.
Resource AutoNation, Inc.
