Retail know-how big Reynolds and Reynolds Co. stays on the hunt for acquisitions even after shopping for two firms final month, and extra deal-making is feasible this yr but, firm President Chris Walsh informed Automotive Information.
Walsh first informed Automotive Information in February that the corporate would look for acquisitions in 2022 as a part of its bigger plan to bolster its product portfolio and choices. Since then, the Dayton, Ohio-based dealership administration system supplier has accomplished two acquisitions.
Reynolds in early July purchased Motility Software program, which sells dealership administration software program to powersports and different specialty shops. Then, on July 29, it finalized a deal to purchase Proton Dealership IT, a cybersecurity and data know-how services and products supplier.
However Reynolds isn’t carried out.
“We have plenty of issues that we’re proper now, and once more, I do assume there’s alternatives inside automotive to type of diversify and get into areas that aren’t areas which are type of our core competency however are nonetheless huge wants,” Walsh mentioned. “Proton’s an ideal instance of that.”
Cybersecurity instruments are in demand by dealerships right now, which is why the corporate sought to make a transfer in that house, he mentioned.
“It is not one thing the place we’re almost nearly as good as [Proton is] on it, so it made sense to companion and leverage the assets and companies that they already had,” Walsh mentioned.
Reynolds can be eyeing the finance and insurance coverage house for acquisition alternatives, he mentioned.
The corporate purchased retail technology vendor Gubagoo final yr, a deal Walsh described as “large.”
