NexaMotion Group Completes its Third Acquisition of the Year with City Auto Supply
Rhea-AI Summary
NexaMotion Group (NMG) has completed its third acquisition of the year by purchasing City Auto Supply, a veteran-owned with three wholesale distributor locations - two in San Francisco and one in Honolulu. Founded in 1986, City Auto Supply carries over 100,000 individual parts and is a leading automotive parts distributor. This marks NMG's fifth acquisition in the general repair space over the past 18 months. The terms of the acquisition were not disclosed.
Positive
- Strategic expansion with three new wholesale locations in key markets (San Francisco and Honolulu)
- Addition of 100,000+ individual parts to inventory portfolio
- Demonstrates consistent M&A execution with 5th acquisition in 18 months
Negative
- Undisclosed acquisition terms limiting financial impact assessment
- Integration costs and risks associated with multiple acquisitions in short timeframe
News Market Reaction
On the day this news was published, NMG declined 1.39%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
City Auto Supply is a
"An organization like NexaMotion Group is a great partner for City Auto Supply customers and team members. Our business is strategically aligned with NexaMotion Group and its leaders, and most importantly, we share the same values" said City Auto Supply owner Larry Chew. "NexaMotion Group and its subsidiaries are known for providing top-quality parts and exceptional service in the aftermarket industry."
Neil Sethi, President and CEO of NexaMotion Group, shares his excitement about the company's growth momentum: "This marks our fifth acquisition in the general repair space over the past 18 months, and we're just getting started. Our mission has always been to simplify complex vehicle repair, and with each acquisition, we strengthen our ability to serve customers more effectively. We're eager for what the future holds as we continue to expand and innovate."
About NexaMotion Group
NexaMotion Group's mission is to simplify complex vehicle repair to keep the world moving. NexaMotion Group helps automotive professionals shift into high gear with next-level solutions and innovation. Backed by 50 years at the forefront of the aftermarket industry, NexaMotion Group combines the power of strong connections and readily available supplies with over 125 locations. Learn more at https://www.nexamotiongroup.com/.
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SOURCE NexaMotion Group
FAQ
What companies did NexaMotion Group (NMG) acquire in October 2024?
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