asTech Acquires Red EU & Red Autocentres
March 24, 2021
New York, NY – Repairify, Inc. d/b/a asTech (“asTech”), a portfolio company of Kinderhook Industries, LLC (“Kinderhook”), announced today the acquisition of Red (EU) Limited and Red Autocentres. Red (EU) Limited is a leading distributor of aftermarket electronic devices designed to run diagnostic tests and calibration services on automotive electrical systems, specifically advanced driver-assistance systems (“ADAS”). Red Autocentres is a leading provider of automotive diagnostics, calibration and programming services for the collision and mechanical markets. The combined Companies will operate as Red EU (“Red” or the “Company”) and represent the eleventh add-on acquisition for asTech and Kinderhook’s 105th automotive-related transaction. Financial terms of the transaction were not disclosed.
Red provides a complete suite of solutions for the service, maintenance, and repair (“SMR”), collision, and automotive insurance industries through diagnostic scan tools and automotive electrical system services. Services include local, car-side, and remote diagnostics along with sensor calibration, programming, and vehicle health support.
“Red is an exciting acquisition that enables asTech to further broaden its suite of global tools and solutions for customers. With demand for ADAS repair and calibration services rising, asTech looks forward to continuing to be the solution provider of choice for customers seeking to properly repair today’s sophisticated car parc,” said Paul Cifelli, Managing Director of Kinderhook Industries.
“Repairify is thrilled to welcome Martin Brown from Red, who will be joining the Repairify team as Technical Director, Repairify Innovations. Expanding into new markets and augmenting service offerings to better serve all customers is key to asTech’s global growth strategy. We look forward to integrating Red, a leading market expert in the United Kingdom (UK), which will enable us to further execute on that strategy across the UK, Europe, and internationally,” said Cris Hollingsworth, President of Repairify.
“The merger between Red and Repairify will provide tremendous value and benefits to all our of our Red global customers”, said Martin Brown, CEO of Red EU. “Red customers will benefit from having access to a complete portfolio of world class tools, products, and services rapidly being integrated under the Repairify global solutions platform.”
Mishcon de Reya LLP and Kirkland & Ellis LLP served as legal counsel to asTech.
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