Transom Capital Group has exited American Driveline Systems, a francisor of AAMCO and Cottman Transmission & Total Auto Care brands.
AAMCO and Cottman are considered to be the top two transmission repair retail chains in North America, with nearly 700 franchised units in 47 states and three provinces. American Driveline Systems was founded in 1963.
Icahn Enterprises, a holding company engaged in ten primary business segments, has bought the company. The company deals in the investment, automotive, energy, gaming, railcar, mining, food packaging, metals, real estate and home fashion sectors.
Transom Capital Group Managing Partner Ken Firtel said “Our goal, when we acquired ADS, was to position the company for long term growth. Through our collective efforts we were able to resolve obstacles to growth, and in doing so, position the company for even greater future success.”
“In addition, we have found a perfect acquirer of the business in Icahn Enterprises, whose strengths are a near perfect complement to ADS’ and will most surely help to usher in the next wave of growth at the company.”
AltAssets reported in June last year that Transom Capital Group closed its second oversubscribed fund on $133m. Transom Capital Fund II was raised in partnership with leading institutional investors, closing above its $125m target.
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