Agreement brings end to lawsuit filed by Chrysler in January. LKQ Corporation announced it has entered into a Patent License Agreement with Chrysler Group LLC that grants LKQ a license under certain Chrysler design patents in connection with LKQ’s distribution and sale of aftermarket collision parts in the United States. As part of the agreement, […]
Barrett Smith to Address Auto Body Association of Texas Inaugural Meeting June 18
Barrett Smith, AAM, President and founder of Auto Damage Experts, Inc. (ADE) will make a presentation to members and guests of the newly formed Auto Body Association of Texas (ABAT) during its first meeting on Wednesday, June 18th, from 11:30 a.m. until 2:00 p.m. The meeting is being held at the Henderson Civic Center located […]
Service King Finalizes Sterling Acquisition
Service King Collision Repair Centers has finalized the acquisition of Sterling Collision Centers that was announced in April. Service King now operates 175 locations across 20 states. “Acquiring a company like Sterling Collision Centers is about more than expanding our network with bricks and mortar. The strength of our organization lies within our people and […]
Federal Lawsuit Filed Against 7 Insurers Alleging Conspiracy to Control the Cost of Collision Repairs
Repair facility alleges violation of Racketeer Influenced and Corrupt Organization Act, Fraud and Unjust Enrichment by the largest U.S. insurers. Seeks class action status. A lawsuit brought by a Pennsylvania-based collision repair facility was filed April 30 in the U.S. District Court for the Northern District of Illinois, Eastern Division, naming State Farm, Allstate, GEICO, […]
Service King Acquires 62 Sterling Stores, Boyd Acquires 25 Collision Revision Locations
Two big acquisitions were announced yesterday. Collision repairers in 16 states are waking up this morning to a new competitive landscape as Service King Collision Repair Centers announced that it has reached an agreement to acquire Sterling Collision Centers and its 62 stores. This acquisition will bring the total number of Service King locations to […]
AAIA and CARE Conclude Voluntary Information Sharing Agreement with Auto Manufacturers
Agreement brings to a close “Right to Repair” effort that began in 2001 to legislate open access to vehicle repair information. Groups will oppose further state legislation. The Alliance of Automobile Manufacturers (Alliance), the Association of Global Automakers (Global), the Automotive Aftermarket Industry Association (AAIA), and the Coalition for Automotive Repair Equality (CARE) announced their […]
ABPA Files Lawsuit Seeking to Overturn Ford Design Patents
Seeks to have body repair part design patents ruled invalid. Alleges Ford uses patents to limit distribution and increase cost of repair parts. On November 25, the Automotive Body Parts Association (ABPA) filed a lawsuit in the United States District Court for the Eastern District of Texas against Ford Global Technologies, LLC that seeks to […]
KKR Acquires Mitchell International
Aurora Capital Group sells the stake in Mitchell that it acquired in 2007. Mitchell International announced yesterday that it has executed a definitive agreement with KKR whereby Aurora Capital Group will exit its equity position and transition ownership to KKR. Financial terms of the transaction were not disclosed. Aurora led an investment group that acquired […]
Massachusetts Bill Seeks State-Set Labor Rate
Insurance commissioner would set minimum rates based on rates in neighboring states. The Massachusetts legislature will once again consider legislation that would establish a state set auto body labor rate. At a hearing scheduled for June 20, the Joint Committee on Financial Services will consider a measure that would set a state minimum labor rate […]
Investcorp Completes Sale of CCC to Leonard Green & Partners
Investcorp confirmed that it has successfully completed the sale of CCC Information Services to the Los Angeles based private equity firm Leonard Green & Partners, L.P. Terms of the transaction were not disclosed however Investcorp noted that the sale of CCC unlocks over $550 million in proceeds for Investcorp and its investors. CCC was a […]