Cox Automotive Announces Acquisitions
October is already in high-gear at Cox Automotive, with the announcement of two acquisitions: F&I Express and RideKleen.
F&I Express is a technology company that brings the automotive aftermarket industry into the digital age. With solutions that cut costs, educate consumers, improve compliance and increase efficiency for dealers, lenders and more, F&I Express offers various technology solutions to solve for customers’ needs.
This acquisition was made in response to increasing demand for aftermarket recovery solutions in the automotive industry, and for Cox Automotive to expand its digital retail products and services.
Cox Automotive will operate the company as a wholly-owned subsidiary within the Retails Solutions Group. F&I Express employees will remain in their current roles and the business unit will operate out of its current location in Grapevine, Texas.
Learn more about F&I Express here.
With the acquisition of RideKleen, Cox Automotive Mobility is growing in team members, capabilities and revenue. RideKleen provides mobile car-washing and detailing services, in addition to fleet management technology. Working in seven markets today, RideKleen averages 1,500 vehicles per week and is on track to service more than 60,000 vehicles by the end of 2018.
With Cox Automotive Mobility’s focus on consumer mobility (e.g. alternatives to traditional car ownership such as subscription services and ride-sharing) and fleet operations (solutions that simplify mobility solutions while minimizing vehicles’ downtime and maximizing profitability), RideKleen is expected to be a cornerstone of the fleet operations focus.
Watch an overview of RideKleen here.
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