The largest auto insurer in the U.S. will update its local markets surveys areas based upon government definitions. May result in some changes to rates. State Farm Insurance announced it is refining the market definitions used in its repair facility survey. State Farm surveys allow eligible auto body repair facilities in the various markets the […]
Driven Brands Acquires 1-800-Radiator & A/C
Driven Brands announced that it has entered into an agreement to acquire 1-800-Radiator & A/C, the automotive parts distributor in North America. “We are excited to welcome 1-800-Radiator to the Driven Brands family,” said Driven Brands CEO Jonathan Fitzpatrick. “1-800-Radiator is well respected by its customers and franchisees alike. We look forward to leveraging their […]
Carlyle Closes Acquisition of National Accident Repair Services
The Carlyle Group announced that it has completed the previously announced acquisition of National Accident Repair Services PLC (NARS), the collision repair and accident administration service provider in the UK. Following approval by the High Court of Justice of England and Wales, NARS has made an application to the London Stock Exchange for the cancellation […]
J.D. Power to Acquire NADA Used Car Guide
J.D. Power and the National Automobile Dealers Association (NADA) announced an agreement under which J.D. Power will acquire NADA’s Used Car Guide business, a premier source of used-vehicle values. The transaction is expected to close early in the third quarter of 2015 and is subject to Hart–Scott–Rodino Act review. Established by NADA in 1933, NADA […]
Roark Capital Group Acquires Driven Brands
MAACO and Meineke among automotive aftermarket operations sold to private equity firm. Roark Capital Group, an Atlanta-based private equity firm focused on franchise and consumer brands, announced today that its affiliate has acquired Driven Brands, the franchise automotive company, from Harvest Partners, LP. Jonathan Fitzpatrick, Driven Brands’ Chief Executive Officer, will continue to lead the […]
Michael Quinn Named Executive Vice President at Assured Performance
Assured Performance announced the appointment of Michael Quinn as Executive Vice President. Quinn will assume responsibility for the general business operations at Assured Performance including sales, marketing, and business development. He will also maintain a position on their Board of Directors. Quinn has more than 25 years of industry experience. He co-founded a seven shop […]
Carlyle Group Makes Offer for Nationwide Accident Repair Services
UK-based operator of more than 70 collision repair centers, mobile and glass repair businesses and network services makes agreement with Carlyle subsidiary valuing the company at nearly $64 million. The board of Nationwide Accident Repair Services plc (NARS), the UK-based accident repair and management company, announced an agreement for Canaveral Bidco Limited (CSP Bidco), a […]
U.S. Senator Reiterates Call to Investigate Auto Insurance “Scheme”
A frequent critic of both insurance companies and vehicle manufacturers, U.S. Senator Blumenthal of Connecticut asks Attorney General to investigate possible illegal practices by auto insurers. Asks for DOJ update on 1963 Consent Decree’s applicability to today’s marketplace. U.S. Senator Richard Blumenthal announced yesterday that he sent a letter to Attorney General Eric Holder urging […]
CNN Report Highlights Poor Quality Parts and Repairs, Body Shop Lawsuits against Auto Insurers
Collision repair industry reacts to Anderson Cooper 360 segment in prime time warning of unsafe repairs due to poor quality parts and repair work. Antitrust lawsuits against insurers detailed. Viewers of CNN’s Anderson Cooper 360 segment broadcast last night were exposed to the controversies surrounding insurance company referral programs, parts choice and collision repair quality […]
Transcript of CNN Report
CNN provided a transcript of their complete Anderson Cooper 360° report. It is republished below. TRANSCRIPT – ANDERSON COOPER, CNN HOST: Well, if your car is ever damaged in an accident or repaired through a major insurance company in this country, there are major state and federal lawsuits underway that you should probably know about. […]