AutoNation To Buy RepairSmith For $190 Mln

(RTTNews) - Automotive retailer AutoNation, Inc. (AN) on Monday said it has inked a deal to acquire RepairSmith, a privately held full-service mobile solution for automotive repair and maintenance, for $190 million.

The transaction is expected to be closed in the first quarter of 2023.

Mike Manley, AutoNation's CEO, said: "…RepairSmith is the next step in our plan. 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."

RepairSmith offers convenience of services and repairs at their home, workplace, or on-site for fleet vehicles. AutoNation will also utilize RepairSmith as a resource for reconditioning and internal services.