AutoNation to Buy Mobile Car-Repair Startup for $190 Million (2)

AutoNation Inc. is buying a mobile car-repair startup that counts Mercedes-Benz Group and Porsche AG among its investors for $190 million.

The acquisition of Los Angeles-based RepairSmith Inc., which was founded in 2018, is expected to close in the first quarter of next year, AutoNation said Monday in a statement. The announcement confirmed an earlier report by Bloomberg News.

AutoNation, the largest dealership chain in the US, has been broadening its service offerings since the pandemic accelerated a shift to online car sales. Earlier this year it bought CIG Financial for $85 million to set up a captive ...