Icahn Automotive acquires Tecnicentros Mundial

12 February 2020

Icahn Automotive, a company of Icahn Enterprises LP, owner and operator of the leading service provider Pep Boys, completed the acquisition of Tecnicentros Mundial, an automotive service chain with six locations in Puerto Rico. The locations of Tecnicentros Mundial in Caguas, San Juan Centro, Rio Piedras, Campo Rico, Dorado and Ponce will become Pep Boys brand service centers and the employees of those locations will become part of the Pep Boys team.

"The acquisition of Tecnicentros Mundial provides us with a solid platform to continue growing in Puerto Rico and will also allow us to meet the growing demand for automotive services from individual clients and fleets," said Brian Kaner, executive director of services. "We want to welcome the team of Tecnicentros Mundial to the Pep Boys family, in addition to confirming our commitment to the recovery of the island."

Similar to what happens in the United States, the demand for the service called "do it for me" (DIFM) in Puerto Rico is because drivers have the same vehicle for a longer time, greater complexity of vehicles and a growth in fleets. The acquisition will increase the locations of Pep Boys on the island to 33, 30 of which will provide automotive service. The company will also acquire an existing deposit.

"Tecnicentros Mundial is pleased to be part of Pep Boys, a company with a considerable and stable track record in Puerto Rico," said Jacklin Tirado, vice president of Tecnicentros Mundial. "Our previous founder, Efraín Tirado, made Tecnicentros Mundial a company with a solid reputation that was a pillar for our local communities for more than 30 years, and we are pleased with Pep Boys' commitment to our employees, customers and legacy."

Pep Boys has had locations in Puerto Rico for more than 25 years and employs more than 100 people, including trained automotive technicians, to provide services to customers in the region. The acquisition is part of a multi-year strategic expansion plan that brought significant growth to the Icahn Automotive portfolio and expanded the presence of Pep Boys as the global market for automotive service continues its consolidation.

About Pep Boys

Since 1921, Pep Boys has been one of the nation's leading automotive aftermarket chains in providing premium tires; Maintenance and repair of motor; leading brands and expert advice for "do it yourself" clients; distribution of commercial auto parts; and fleet maintenance and repair for customers throughout the US UU. Pep Boys operates more than 9000 service centers in some 1000 locations in 35 states and Puerto Rico, in addition to the Pep Boy Mobile Crew service trailer, which offers on-site automotive maintenance. To find the nearest location, customers can call 1-800-PEP BOYS (1-800-737-2697), visit www.pepboys.com , or follow Pep Boys on Twitter , Facebook orInstagram .

About Icahn Automotive

Icahn Automotive Group LLC (Icahn Automotive) was formed by the parent company Icahn Enterprises LP (NASDAQ: IEP) for the investment and operation of businesses related to the service and distribution of aftermarket parts. Our businesses have a particular focus: to provide services and automotive parts at a great value. Today, Icahn Automotive is made up of Pep Boys ® , an automotive after-sales service and retail chain; Auto Plus ® , distributor of automotive aftermarket parts; Precision Tune Auto Care ®, own and franchise centers for automotive services; and AAMCO Total Auto Care, a service center franchise. The company is also a licensee of Cottman Transmission and operates under several local brands. Icahn Automotive's total business includes more than 22,000 employees, more than 2000 company-owned and franchised locations and 25 distribution centers in the US. UU. Canada and Puerto Rico. For more information, visit IcahnAutomotive.com .

The original text in the source language of this release is the official authorized version. Translations are only provided as an adaptation and must be checked against the text in the source language, which is the only version of the text that will have a legal effect.

Contacts
Arianna Stefanoni Sherlock, Icahn Automotive
609-969-8349, [email protected]

Christine Bowser, Pinnacle Media
330-688-3515, [email protected]

 

Source: businesswire.com