Reddi Brake Embarks on Expansion Drive

Reddi Brake Supply Corp., a little-known firm based in Ventura, is on an expansion drive that has seen it grow by threefold in the past year.

If you haven’t heard of Reddi, it’s because the company sells brake systems, chassis compartments and other car parts to professional mechanics rather than the general public.

Reddi now has 72 outlets nationwide, compared with only 18 in October, 1993, reports Michael J. Cassidy, the firm’s chief financial officer.

The company has been through some rough weather because of problems at its Wesco parts supply division, but that unit has been sold, Cassidy said. He added that Reddi is negotiating a $7-million line of credit with Sumitomo Bank of California.

“Due to problems at Wesco, we showed a loss in the fiscal year that ended June 30,” Cassidy said. “Now, however, we’re operating in the black and planning to open more stores.”

Reddi has two outlets in Ventura County--one in Thousand Oaks and one adjoining corporate headquarters in Ventura. The company has 600 employees. Cassidy estimates that sales in the current fiscal year will exceed $40 million.