SOUTHFIELD, Mich. — Icahn Enterprises L.P. has acquired American Driveline Systems (ADS) — franchisor of the AAMCO Total Car Care and Cottman Transmission & Total Auto Care businesses — from Transom Capital Group.
Icahn Enterprises Chairman Carl Icahn called the deal the " next step in building out our national automotive service network."
Financial details were not disclosed. Transom Capital has owned ADS for just nine months, buying it in January from American Capital Ltd., which had owned it for 11 years prior to that.
"I believe that the automotive aftermarket service industry is undergoing secular change driven by increased vehicle complexity, advances in technology, as well as the growth of automotive fleets, including ride-sharing and car-sharing networks," Mr. Icahn said.