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. […]
Collision Repairers File 2nd Amended Complaint in Antitrust Suit against Auto Insurers
As expected, collision repairers have filed another amended complaint seeking to address concerns that led Judge to dismiss the case for a second time last month. Collision repair facility operators in Florida have filed a second amended complaint in their suit brought against more than 30 insurance companies. As CollisionWeek reported January 23, U.S. District […]
Antitrust Suits against Auto Insurers Suffer Setback
U.S. District Judge finds problems with the complaint brought by collision repair facilities alleging antitrust violations. Allows plaintiffs until February 10 to amend complaint on six of seven counts. 1963 Consent Decree found not to apply to current case. In an amended order issued yesterday, U.S. District Judge Gregory A. Presnell has dismissed without prejudice […]
Honda Cautions that New Driver Assist/Safety Systems Require OE Parts Replacement
Honda is cautioning collision repairers that while driver assist systems and other safety systems on many late model Honda and Acura automobiles offer heightened safety and convenience for the vehicle driver and passengers, their performance many be comprised if original equipment (OE) parts are not used during the repair process. According to a Honda parts […]
Axalta Launches Initial Public Offering
Axalta Coating Systems Ltd. announced today it has commenced an initial public offering of 45 million of its common shares. The shares will be offered by affiliates of The Carlyle Group. The anticipated initial offering price is between $18.00 and $21.00 per share. The move has been expected since August when CollisionWeek reported the company […]