Sentinel Capital Partners, a private equity firm, announced its acquisition of Empire Auto Parts, a distributor of aftermarket collision repair parts. Terms of the deal were not disclosed. Headquartered in Totowa, N.J., Empire operates five distribution hubs and 22 satellite delivery locations across 16 contiguous eastern states. With a vast assortment of top-quality products and […]
Copart Reports Revenue of $810 Million in Fiscal 2022 First Quarter
Copart, Inc. (NASDAQ: CPRT) reported revenue of $810.1 million for its fiscal 2022 first quarter financial ended October 31, 2021, an increase of $217.2 million, or 36.6%, from the previous year. Gross profit was $385.0 million, up $88.3 million, or 29.7% during the quarter and net income was $260.4 million, an increase of $60.1 million, […]
IAA and Fastlane Partner to Streamline Total Loss Claims Settlements
IAA, Inc. (NYSE: IAA) announced a strategic industry partnership with Fastlane, a process automation technology company, to leverage its LossExpress solution, a secure platform that connects insurers with the largest active lienholder network in the United States. As the exclusive salvage provider partner to Fastlane, IAA is now positioned to become the first salvage company […]
U.S. House of Representatives Small Business Committee Holds Hearing with SBA Administrator
The Automotive Service Association (ASA) reported that the U.S. House of Representatives Small Business Committee held a hearing entitled “A Discussion with Small Business Administration (SBA) Administrator Isabella Casillas Guzman.” During the hearing, committee members discussed a variety of topics with Guzman, ranging from the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loans […]
CAR Coalition Survey Says 78% of Vehicle-Owning Voters Support Federal Right to Repair Legislation
According to new study, consumers opposed to vehicle manufacturers’ use of design patents to restrict options for common repair parts, like bumpers and side mirrors. The CAR Coalition, a group of independent automotive parts and repair companies, associations, and insurers committed to preserving consumer choice and affordable vehicle repair, has released a national survey of […]
CIECA Announces 2021 Award Winners
CIECA announced its 2021 award recipients on November 3 at the SEMA show in Las Vegas, Nev. Award recipients included: Electronic Commerce Company of the Year: Car-Part.com, accepted by Jeff Schroder, Founding CEO Car-Part.com received this award for its extensive committee involvement and promoting CIECA Standards throughout the industry. Thank you to Jeff Schroder as […]
D&M Auto Body Named Stan Wilson/New Jersey Automotive Shop of the Year by AASP/NJ
The Alliance of Automotive Service Providers of New Jersey (AASP/NJ) named D&M Auto Body of Old Bridge, N.J. the Stan Wilson/New Jersey Automotive Shop of the Year award recipient. Shop manager Dennis Cataldo, Jr., AASP/NJ collision chairman, accepted the award on the collision repair facility’s behalf. “This award was established in honor of a member […]
AirPro Diagnostics Partners with VSG’s Chief Collision Technology
AirPro Diagnostics announced a strategic partnership agreement with Chief Collision Technology, a Vehicle Services Group (VSG) brand, naming AirPro as a provider of services for its Mosaic ADT (Advanced Diagnostic Technology) automated ADAS calibration system. VSG, part of Dover Corporation’s Engineered Products segment, delivers ADAS calibration solutions through their Mosaic system using a Calibration as […]
Sedgwick Introduces End-to-End Automotive Claims Solution
Solution includes access to 2,000 collision repair facility DRP network. Sedgwick, a global provider of technology-enabled risk, benefits and integrated business solutions, has launched a comprehensive, end-to-end automotive loss adjusting, claims administration and product recall offering. This complete solution is available in the U.S., thanks to Sedgwick’s presence in all 50 states and service offerings […]
Consumer Sentiment Down Sharply in Early November
Concerns arise that inflation is impacting living standards. Consumer sentiment fell in early November to its lowest level in a decade due to an escalating inflation rate and the growing belief among consumers that no effective policies have yet been developed to reduce the damage from surging inflation. As CollisionWeek reported November 12, the consumer […]
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