Icahn Automotive acquires automotive service chain Tecnicentros Mundial

Icahn Enterprises’ subsidiary Icahn Automotive which owns and operates Pep Boys, a US automotive aftermarket chain, has acquired Tecnicentros Mundial, a six-location automotive service chain based in Puerto Rico.

The locations of Tecnicentros Mundial in Caguas, San Juan Centro, Campo Rico, Rio Piedras, Dorado, and Ponce will be converted to Pep Boys branded service centers. Employees at the locations will join the team of Pep Boys.

Brian Kaner – CEO-Service of Icahn Automotive said: “The acquisition of Tecnicentros Mundial provides us with a strong platform for additional growth in Puerto Rico and will enable us to meet the increased demand for automotive service from both individual and fleet customers.

“We welcome the Tecnicentros Mundial team to the Pep Boys family, and we are committed to continuing to help the island recover.”

According to Icahn Automotive, the demand for do it for me (DIFM) service in Puerto Rico is similar to the contiguous US because of drivers keeping their cars longer, increased vehicle complexity, and expansion in fleets.

The acquisition will grow the number of Pep Boys locations in Puerto Rico to 33, of which 30 will offer automotive service. Icahn Automotive will also buy an existing warehouse facility.

Pep Boys owner Icahn Automotive acquires Tecnicentros Mundial. Photo courtesy of Business Wire.

Jacklin Tirado – Vice President of Tecnicentros Mundial said: “Tecnicentros Mundial is pleased to be joining Pep Boys, a company with a long and stable history in Puerto Rico.

“Our late founder, Efraín Tirado, built Tecnicentros Mundial into a company with a strong reputation that has been a pillar of our local communities for more than 30 years, and we are pleased with Pep Boys commitment to our employees, customers, and legacy.”

For more than 25 years, Pep Boys has been maintaining locations across Puerto Rico, where it has a workforce of more than a thousand people, which includes hundreds of skilled automotive technicians.

The acquisition of Tecnicentros Mundial is said to be part of a multi-year strategic expansion plan that has significantly added to the Icahn Automotive portfolio, while growing the footprint of Pep Boys.