Global automotive investment company Optimus Group has entered into an agreement to acquire 100 per cent of Autocare Services, an integrated automotive logistics company, from Linx Cargo Care Group for $44 million.
Known for its bright red and yellow car transporters, Autocare was placed into voluntary administration in February 2021 and removed from administration in July 2021.
Autocare has strategic operations in all major port regions of Australia, providing transportation, storage and processing of imported vehicles, including those from major OEM’s.
Melbourne-headquartered Autocare is known for its bright red and yellow car transporters
In addition to these services, the Melbourne-based operator provides a wide range of services including delivery of vehicles to automotive dealerships, rental and fleet providers, and other customers across the entire automotive industry, including storage, cleaning, quarantine, customs clearance and so on.
The purchase, through Optimus Group Australia, is part of the Tokyo Stock Exchange-listed company’s diversification strategy and commitment to “building the Australian model”, it says in a statement.
It follows the November 2023 acquisition of Autopact, a major vehicle dealership chain with 28 dealerships.
Autocare also provides a wide range of services including delivery of vehicles to automotive dealerships
Optimus also owns 30 per cent of part of used car retailer Ozcar, 60 per cent of Melbourne-based Blue Flag automotive data services business.
What’s more, it holds 100 per cent of Dolphin Shipping which is a key player in the used car trade from Japan to Australia.
The acquisition is planned to be completed by April 1, 2024.
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