Private equity firm also owns Service King Collision Repair Centers
Australia’s AMA Group (ASX:AMA) announced today that it will sell its collision repair business to the U.S. private equity firm Blackstone for AU$508 million ($395.4 million) and spin off its automotive component and accessory (ACAD) business into a new company that will remain listed on the Australia Stock Exchange. The valuation represents 10.7 times projected pro forma normalized earnings before interest, taxes, depreciation and amortization (EBITDA) for the year ending June 30, 2018
In January, AMA confirmed that it had received a proposal from Blackstone for its panel repair business.
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