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Add AAMCO to the list of Icahn buys


TieRod
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Icahn Enterprises Acquires American Driveline Systems, Franchisor Of AAMCO And Cottman Service Centers

Icahn Enterprises L.P. (IEP) announced that it has acquired American Driveline Systems (ADS) from Transom Capital Group through a wholly-owned subsidiary. ADS is the franchisor of AAMCO and Cottman Transmission & Total Auto Care service centers, with approximately 680 locations in the U.S. and Canada. With the addition of ADS, Icahn Automotive now operates approximately 1,900 owned and franchised service locations in 49 states plus Puerto Rico, the District of Columbia and several other international locations.

“The acquisition of American Driveline Systems is the next step in building out our national automotive service network,” said Carl Icahn, chairman of IEP. “I believe that the automotive aftermarket service industry is undergoing secular change driven by increased vehicle complexity, advances in technology, as well as the growth of automotive fleets, including ride-sharing and car-sharing networks. These changes will continue to offer, in my opinion, extremely attractive and unique investment opportunities. With our presence throughout the automotive aftermarket value chain, Icahn Enterprises is positioned to capitalize on these trends.”

“Icahn Automotive Group continues to pursue an aggressive strategy of strengthening our full-service automotive repair capabilities, with the ability to leverage a broad national footprint and what we believe will be the most efficient operating model in the industry,” said Daniel Ninivaggi, CEO of Icahn Automotive Group LLC. “We are excited to work with the ADS management team as well as the AAMCO and Cottman franchisees to capitalize on the many growth opportunities we see ahead.”

http://www.aftermarketnews.com/icahn-enterprises-acquires-american-driveline-systems-franchisor-aamco-cottman-service-centers/

Edited by TieRod
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