RPM Automotive Group has completed its acquisition of Vic Wide Tyre Service. Funding for the acquisition was sourced from internal cash reserves.
RPM CEO, Clive Finkelstein, said the group is pleased to complete the transaction and is looking for new opportunities to add value to the business.
“We are pleased with the smooth transition of Vic Wide Tyre Service into the group’s Repairs and Roadside division and welcomed its staff and management to the RPM,” said Finkelstein.
“There is good cultural alignment with our current operations that will begin to add value across the broader RPM network through the cross-selling of products and tyre brands to different customer bases, as well as cost synergies as a result of the scale achieved. We continue to examine other strategic opportunities to better service our customers, in line with our growth strategy, to become Australia’s leading automotive aftermarket business.”