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RPM Automotive Group welcomes two complementary tyre businesses into auto aftermarket fold
The company’s growth strategy remains on course, with organic business growth exceeding budget and further potential acquisitions in the pipeline. RPM remains on track to generate record revenues of $50 million in FY21.
RPM Automotive Group Ltd (ASX:RPM) has acquired two Victorian tyre businesses, Elite Tyre Group (ETG) and Super Tyre Mart (STM), which will be integrated into RPM’s Wholesale Tyre Division and its Repairs and Roadside Division respectively from July 1, 2021.
This is the second acquisition since the completion of RPM’s $5.1 million capital raising in January, enabling the company to advance operations together with providing working capital and funding for potential new opportunities.