Icahn Automotive Group has entered into an agreement to acquire automotive service company Precision Auto Care Inc., parent company of Precision Tune Auto Care. Icahn Automotive Group is a wholly-owned subsidiary of Icahn Enterprises L.P.
“The acquisition of Precision Auto Care, with more than 250 corporate-owned and franchised Precision Tune service locations in the United States, is the next step in building out our national automotive service network,” said Daniel A. Ninivaggi, CEO of Icahn Automotive Group LLC. “Coupled with our existing footprint of more than 1,000 corporate-owned locations, as well as our in-house automotive parts and tire distribution capabilities, we are uniquely positioned to provide high-quality parts, tires and services to our customers at the most competitive price.”
Precision Auto Care, in business for more than 40 years, has service locations in 26 states, with concentrations in Georgia, North Carolina and South Carolina.
“These full-service shops will continue to operate as Precision Tune locations and will be led by Robert Falconi, who will remain CEO of Precision Auto Care,” Ninivaggi said. “We are pleased to welcome a number of strong independent franchisees to our organization. I would like to thank the Precision Tune franchisees, particularly the Grimaud and Allbert families, for their support. We look forward to working with these business owners and Robert to grow the Precision brand.”