Speedemissions, Inc., a vehicle emissions testing and safety inspections company operating 22 stores in the Atlanta and St. Louis markets, has closed an Asset Purchase Agreement with Auto Recycling of Montgomery (ARM), an Alabama corporation, pursuant to which the company agreed to purchase certain assets of ARM, including land, buildings, equipment and inventory previously used by ARM in an auto recycling operation which ceased operations in June of 2014.
With the Asset Purchase Agreement, Speedemissions intends to create an auto salvage business operation at the existing location in Montgomery, Alabama but expects it will take approximately 60 days to hire employees and put the necessary business systems in place before sales operations can commence.
As part of an overall strategic initiative, Speedemissions has formed a wholly-owned subsidiary for the purpose of seeking future acquisitions within the auto recycling industry, subject to capital availability, in addition to its existing vehicle emission testing business operations.
Published in the June 2017 Edition of American Recycler News
