AMA Group (ASX:AMA) has completed the acquisition of Brisbane’s Shipstone Accident Repair Specialists for $1.44 million, providing it with an entry into the Queensland panel repair market.
Shipstone was founded in 1967 and is an award winning prestige accident repairer with accreditation for Porsche, Audi, VW, Jaguar, Volvo, Infinity, Landrover and Subaru.
It is well positioned for the repair work that is likely to arise from the recent hailstorm in Brisbane.
AMA is focused on the automotive aftercare and accessories market.
It had revenue of $64.4 million in the year ended 30th June 2014 generating net profit of $5.9 million.
It recently launched LED lighting and cable products with strong initial take-up across multiple sales channels.
News: AMA Group acquires Brisbane automotive repair company
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