April 26, 2017
New York, NY – Repairify, Inc., dba asTech, a portfolio company of Kinderhook Industries, LLC (“Kinderhook”), announced today the formation of a new mobile diagnostic services “MDS” platform to effect the acquisitions of PNR Inc. (“TRS”), Replace My Stuff, LLC (“RMS”), and The Airbag Guy, LLC (“Airbag Guy”) (together the “Acquisitions” or “Companies”). The Companies represent the first add-on acquisitions made on the asTech platform and the 42nd, 43rd and 44th automotive-related acquisitions made by Kinderhook. Financial terms of the transactions were not disclosed.
The Companies are all leading providers of mobile diagnostic services such as diagnostic scans, recalibrations, airbag replacements, and key replacements. They cover the Austin, Houston, San Antonio, El Paso, Baltimore and Washington, D.C. markets. asTech will pursue additional acquisitions over the next 24 months as it builds out a national service footprint. asTech will be selectively targeting qualified mobile diagnostic operators in key geographical markets to deliver OEM caliber diagnostics, recalibrations and airbag services. To lead this strategy, asTech has hired Todd Balan as its new Senior Vice President of Corporate Development. Mr. Balan comes to asTech with a long history in corporate strategy and development. Most recently, Mr. Balan served as Vice President of Corporate Development for Polaris Industries, a position he held since 2009.
The diversification of the business into MDS further extends asTech’s suite of service offerings in the collision industry. The creation of MDS and the acquisition and integration of these businesses will allow the Company to offer an end-to-end diagnostic and mechanical solution to its customers, which will in turn make asTech a more integral and vital aspect of the repair process.
Paul Grant, owner of TRS said “We are excited to be part of the asTech team. Gaining access to the resources of asTech was a major reason I decided to join the organization”. Grant added, “I look forward to developing new markets for MDS in the near future.” Mr. Grant will be assuming the role of Vice President of Business Development for MDS.
RMS’ owner Steve Fairall stated “The market for what we do is evolving rapidly and the team at asTech have the resources and expertise to execute.” Fairall added, “Vehicles are changing quickly and without the support of the manufacturers combined with the emergence of leading diagnostic organizations such as asTech, it is difficult for smaller operators to keep up.” In his new role, Mr. Fairall will be responsible for helping to lead asTech’s expansion into new markets around the country.
The owner of Airbag Guy, Chris Gutierrez, will assume responsibility for employee development and training at asTech’s new headquarters in Plano, TX. Mr. Gutierrez, an accredited I-CAR instructor, has his MECP certification and is a licensed Crash Data Retrieval analyst. Mr. Gutierrez said, “My employees will now have access to the tools, training and education that many smaller operators simply cannot afford to offer. Just as the industry is evolving there will be lots of opportunity for employees to grow into new roles as part of the larger organization.”
Doug Kelly, CEO of asTech, said “We are focused on providing our collision repair customers a complete diagnostic and service solution. The addition of mobile technicians provides our customers’ the option to request the technical expertise required to service today’s complex vehicles.” Mr. Kelly added, “Combining on-site technicians with quality remote diagnostic services in key markets will help ensure our customers can stay ahead of the ever changing automobile.”
Monroe Moxness Berg PA served as legal counsel to asTech.