Icahn acquires Puerto Rican auto service chain Tecnicentros Mundial

PHILADELPHIA — Icahn Enterprises L.P. has acquired Tecnicentros Mundial Inc., a six-location automotive service chain in Puerto Rico, and plans to convert the stores to its Pep Boys brand.

The deal, for which financial details were not disclosed, will increase the number of Pep Boys locations on the island to 33, of which 30 will provide automotive service, Icahn Enterprises said.

Icahn also plans to acquire an existing warehouse facility there.

The Tecnicentros Mundial locations — which are co-branded with Goodyear signage — are in Caguas, San Juan Centro, Rio Piedras, Campo Rico, Dorado, and Ponce. Employees at those locations have been invited to join the Pep Boys team, Icahn Enterprises 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," Icahn Automotive CEO-Service Brian Kaner said.

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

Jacklin Tirado, vice president, Tecnicentros Mundial, said his company "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."

Pep Boys has had locations on Puerto Rico for more than 25 years and employs over 1,000 there, including hundreds of skilled automotive technicians.

The acquisition is part of a multi-year strategic expansion plan, Icahn said, that has expanded the Pep Boys footprint as the overall market for automotive service continues to consolidate.

Icahn Enterprises acquired Pep Boys in 2016.