The investment firm The Carlyle Group, together with management and employees of Service King Collision Repair Centers, announced they will acquire majority ownership in the chain of auto body repair shops. Founder Eddie Lennox will retain a significant ownership stake in Service King. Chief Executive Officer Cathy Bonner will become Chairman representing Lennox on the board of directors.
New equity for the investment will come from Carlyle Equity Opportunities Fund L.P. and Carlyle Strategic Partners Fund III L.P. Terms of the transaction, which is expected to close in August, were not disclosed.
Shary Moalemzadeh, Carlyle Managing Director and a member
Subscribers need to be logged in to see rest of this article. Please Login to access. If you're not a subscriber, click here for information on our satisfaction guaranteed subscription options.