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RPM Automotive managing director buys more shares on-market

The company recently signed agreements to acquire Elite Tyre Group as well as Super Tyre Mart.

RPM Automotive Group Ltd - RPM Automotive managing director buys more shares on-market
Managing director Clive Finkelstein owns more than 41 million RPM shares

RPM Automotive Group Ltd (ASX:RPM) co-founder and managing director Clive Finkelstein has purchased 37,100 shares in the company via on-market trades.

Finkelstein is a significant shareholder in RPM holding more than 41 million shares.

Acquisitions

RPM recently signed agreements to acquire Elite Tyre Group as well as Super Tyre Mart for $1.4 million comprising 30% cash and 70% shares.

The two businesses are expected to produce a combined revenue of $5.5 million with an EBITDA margin in the range of 8-10%.

Positively, this represents a purchase price of around 3x EBITDA.

Quick facts: RPM Automotive Group Ltd

Price: 0.275 AUD

ASX:RPM
Market: ASX
Market Cap: $32.87 m
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