AMA Group (ASX: AMA), a motor vehicle accident repair business, has appointed Ray Smith-Roberts as its managing director, succeeding Mathew Cooper. Smith-Roberts, a non-executive director, brings significant industry experience, including prior executive roles within AMA from 2011 to 2019. His mandate focuses on improving operational efficiency, especially within the AMA Collision business, to drive financial turnaround.
The company recently strengthened its financial position through a $125 million capital raise, refinancing of banking facilities, and repayment of a $50 million convertible note. Further bolstering its financial outlook, AMA Group finalized an updated motor service repair agreement with Suncorp Australia. The agreement includes price adjustments reflecting industry-specific inflationary pressures, and reaffirms a commitment to high-quality, cost-efficient repairs. This partnership targets 12 new locations and an additional 40,000 annual repairs over the next four years, leveraging AMA’s Capital SMART Repairs business and AMA Collision network. AMA acquired a 90% stake in Capital SMART from Suncorp in 2019 for $420 million.
