AkzoNobel N.V. (AMS: AKZA; OTCMKTS: AKZOY) on June 9 launched a €750 million ($868 million) bond with a three-year maturity and a coupon of 3.625%, with proceeds supporting financing initiatives related to the company’s proposed merger with Axalta Coating Systems Ltd. The bond issue is the latest step toward completing the $25 billion all-stock merger […]
Driven Brands Reports First Quarter Revenue of $484.4 Million
Sees collision repair industry stabilizing in 2026. Driven Brands Holdings Inc. (NASDAQ: DRVN), the parent company of collision repair networks CARSTAR, Abra and Fix Auto USA and paint franchise Maaco, on June 11 reported first quarter 2026 revenue increased 8% to $484.4 million, with same-store sales up 2.1% across the company’s portfolio. The report marks […]
GEICO Names David Foy Chief Financial Officer
Veteran insurance finance executive joins the third-largest U.S. auto insurer effective June 29, reporting to CEO Nancy Pierce. GEICO announced June 10 that David Foy has been appointed chief financial officer, effective June 29. Foy will be based at the insurer’s headquarters in Bethesda, Md., report to chief executive officer Nancy Pierce and oversee all […]
IIHS Launches First Commercial Vehicle Safety Evaluations
Four of nine models meet driver protection criteria. The Insurance Institute for Highway Safety (IIHS) released the results of its first evaluations of commercial vehicles June 9, finding that four of the first nine heavy-duty pickups and cargo vans assessed come with all the features the institute considers essential for driver protection, including standard front […]
Gas Prices Fall for Third Straight Week to $4.13
The U.S. national average price of regular gasoline has fallen for three consecutive weeks, dropping to $4.13 from a May 21 peak of $4.56, AAA reported June 11. The 43-cent decline brings some relief to drivers at the start of the busy summer travel season, aided by West Texas Intermediate crude holding below $100 a […]
Rhode Island Legislature Passes Bill to Raise Total Loss Threshold to 85%
For the second year in a row, Rhode Island total loss thresholds have been adjusted. The Rhode Island General Assembly has passed legislation that would raise the threshold at which an insurer may declare a damaged vehicle a total loss to 85% of its pre-accident fair market value, up from the 80% ceiling set in […]
Snap-on Acquires Heavy-Duty Diagnostics Provider Diesel Laptops for $100 Million
Snap-on Incorporated (NYSE: SNA) announced June 9 that it has acquired Diesel Laptops LLC for approximately $100 million in cash, extending the tool and diagnostics maker’s reach into the commercial truck and off-highway equipment repair markets. The transaction closed June 8. The acquisition adds to the proprietary repair data and diagnostics offerings of Snap-on’s Repair […]
SkillsUSA 2026 National Collision Repair, Automotive Refinish and Damage Appraisal Medalists Announced
The medalists at the 2026 SkillsUSA Championships, held June 1-5 at the Georgia World Congress Center in Atlanta, have been announced. The championships brought more than 6,800 state champions to Atlanta to compete in 115 skilled and leadership competitions during the 62nd annual SkillsUSA National Leadership & Skills Conference. I-CAR staff and members of its […]
ATMC Releases 2026 Training Benchmarks Survey Results
The ASE Training Managers Council (ATMC) has released the results of its 2026 Training Benchmarks survey which provides valuable insights into technician training needs, industry trends and workforce development priorities across the automotive, truck and collision repair sectors. This year’s survey generated a significant increase in participation, with responses up by approximately 65 percent compared […]
John Balderree Named Campus President of New Universal Technical Institute Salt Lake City Campus
Universal Technical Institute (UTI), the automotive/diesel, skilled trades, electrical and energy education division of Universal Technical Institute, Inc., announced that John Balderree has been named Campus President of its new Salt Lake City campus. Most recently, Balderree held senior roles at BYU Pathway Worldwide, where he led student services and experience initiatives focused on expanding […]