asTech Acquires Red EU & Red Autocentres

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Mar 24, 2021, 06:00 ET

NEW YORK, March 24, 2021 /PRNewswire/ -- 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 105^th 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 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.

About Kinderhook Industries

Kinderhook Industries, LLC is a private investment firm that manages over $3.3 billion of committed capital. We have made in excess of 260 investments and follow-on acquisitions since inception. Kinderhook's investment philosophy is predicated on matching unique, growth-oriented investment opportunities with exceptional financial expertise and our proprietary network of operating partners. Our focus is on middle market businesses with defensible niche market positioning in the healthcare services, environmental / business services, and automotive / light manufacturing sectors. We have a track record of successfully and consistently building industry leaders.

For more information, please visit: www.kinderhook.com

About asTech

asTech is the leading provider of remote diagnostic solutions and services to the collision industry. asTech provides cutting-edge, expert diagnostics using OEM tools to provide safe and accurate repairs. asTech provides remote diagnostics using its patented device and also provides access to ASE-Certified Master Technicians, who are trained to be virtual diagnosticians. asTech Master Technicians can service many trouble codes remotely and provide real-time assistance to shop technicians at the vehicle when needed. asTech also offers mobile repair, key replacement, calibration services, and BlueDriver®, the #1 vehicle scan tool solution on Amazon. asTech is based in Plano, Texas.

For more information, please visit: www.astech.com

About Red

Red is a leading provider of aftermarket electronic devices designed to run diagnostic tests and calibration services on automotive electric systems. Red also provides ADAS services including local, car-side, and remote diagnostic along with sensor calibration, programming, and vehicle health support. A market expert for technical services, solutions, and hard-to-fix vehicles, Red is based in Dunstable, United Kingdom.

For more information, please visit: www.red.holdings

SOURCE Kinderhook Industries