Monday, December 12, 2022

RepairSmith Acquired By AutoNation For $190M

Los Angeles-based mobile automotive repair and maintenance startup RepairSmith has been acquired by automotive retailer AutoNation said on Monday. According to AutoNation, it will pay $190M for RepairSmith, in a deal which is expected to close in the first quarter of 2023. AutoNation says RepairSmith has significant operational footprint in the southern and western United States. RepairSmith was venture backed by TI Capital, Mercedes-Benz, Porsche Ventures, and Spring Mountain Capital, and had raised $41M in a Series B in 2021. The company was led by Joel Milne and originall spun out of Daimler AG.