AutoNation Ramps Up After-Sales Business With $190M RepairSmith Acquisition - AutoNation (NYSE:AN)

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.
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