Icahn Automotive Acquires Technicentros Mundial
Feb. 12, 2020—Pep Boys parent company Icahn Automotive announced the acquisition of Tecnicentros Mundial, a six-location automotive service chain in Puerto Rico. The Tecnicentros Mundial locations in Caguas, San Juan Centro, Rio Piedras, Campo Rico, Dorado, and Ponce will be converted to Pep Boys branded service centers, and employees at those locations will join the Pep Boys team, according to a press release.
“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,” said Brian Kaner, CEO-Service, in the release. “We welcome the Tecnicentros Mundial team to the Pep Boys family, and we are committed to continuing to help the island recover.”
According to the release, similar to the contiguous United States, the demand for service in Puerto Rico is due to drivers keeping their cars longer, increased vehicle complexity and growth in fleets. The acquisition will increase the number of Pep Boys locations on the island to 33, of which 30 locations will provide automotive service. The company will also acquire an existing warehouse facility.
“Tecnicentros Mundial is pleased to be joining Pep Boys, a company with a long and stable history in Puerto Rico,” said Jacklin Tirado, Vice President, Tecnicentros Mundial. “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.”