Hancock County company completes two acquisitions
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
Indiana Automotive Equipment in Hancock County is adding to its portfolio. The company, which provides sales and service for the automotive and heavy-duty vehicle repair industries, has acquired a pair of companies in Kentucky and Illinois, though financial details are not being disclosed.
IAE, which is based in Maxwell, Ind., acquired Care-Tech Automotive Equipment near Louisville. The family-owned business was founded in 1988 and led by Chester Bischoff and his daughter, Melissa Jacobs.
The company also acquired Safetylane Automotive Equipment in Chicago, which serves nearby markets in Illinois and in east St. Louis. The company was founded 30 years ago by Peter Haralovich.
“We are grateful to Chester, Melissa, and Peter for their continued partnership throughout this process,” IAE President Chris Susott said in a news release. “We are committed to preserving the legacy that these dedicated professionals built, and we recognize and respect their strong local presence.”
As a result of the acquisitions, IAE is adding a total of seven employees from the two companies to its team. Susott said IAE will provide them with development and career advancement opportunities.
IAE has its sight set on further expansion in the Midwest. The company is the exclusive dealer of Stertil-Koni heavy duty vehicle lifting systems in Indiana, Kentucky and Illinois, and was recently awarded exclusive rights to sell its products in Ohio.
“When I purchased IAE in 2020, I knew our team had the potential to expand by maximizing our niche within the heavy-duty market while also maintaining and growing the core light-duty dealership business,” said Susott.
IAE sells and services a variety of products, including automotive in-ground and above ground lifts, mobile column lifts, fluid pumps, air compressors and refrigerant dryers, wheel service and alignment equipment, and small hydraulic equipment for the service of vehicles.
The acquisitions brings IAE’s total headcount to 50 employees.