CCC Information Services Inc. announced that the private equity firm Leonard Green & Partners has entered into a definitive agreement to acquire a controlling interest in the company from Investcorp. Committed debt financing has been provided by affiliates of Goldman Sachs, including its principal mezzanine funds, and J.P. Morgan. Terms of the transaction were not […]
The Carlyle Group to Acquire Service King Collision Repair Centers
The investment firm The Carlyle Group, together with management and employees of Service King Collision Repair Centers, announced they will acquire majority ownership in the chain of auto body repair shops. Founder Eddie Lennox will retain a significant ownership stake in Service King. Chief Executive Officer Cathy Bonner will become Chairman representing Lennox on the […]
Assured Performance and CARFAX Sign Reporting Deal
Assured Performance Network announced that they have entered into an agreement with CARFAX to report when a vehicle is repaired using 100 percent OEM Collision repair parts if it is already reported as damaged. The repair reporting also requires the shop and consumer’s permission. Buyers and sellers of used cars will now have information about […]
DuPont Names Vanlancker VP of Performance Coatings for EMEA Region
DuPont named Thierry Vanlancker as Vice President of Performance Coatings for the company’s Europe-Middle East-Africa (EMEA) region, effective December 1. Vanlancker, 46, currently global business and market director for DuPont Fluorochemicals since 2006, has held a range of business leadership roles in sales, marketing and technical capacities since joining the company in 1988. His assignments […]
Sterling Autobody Completes System-Wide Waterborne Conversion
Sterling Autobody Centers announced it has completed its network-wide conversion to waterborne paint. The transition began in June and took less than three months to complete. All 62 Sterling locations are presently using the waterborne system. Sterling President Nick Notte said “I am pleased with the speed of the transition. I commend Sterling leadership for […]
NSF Certifies First Aftermarket Parts Through New Program
NSF International has completed the certification of the first group of parts through its new Automotive Aftermarket Parts Certification Program. NSF’s Parts Certification Program was launched in order to offer independent, third-party testing and certification of only those aftermarket structural parts that replicate the safety and damage criteria design of the original vehicle part. Diamond […]
Diamond Standard Announces Safety Parts Certification Program
In response to the alerts raised by recent presentations at NACE in November 2009, and the Collision Industry Conference in January 2010, Diamond Standard announced that it has accelerated the time frame for its planned launch of a full certification program for safety parts. The company is itself a US based manufacturer of high strength […]
Connecticut AG Calls for Federal Review of Auto Insurer Practices
Connecticut Attorney General Richard Blumenthal held a press conference on Tuesday during which he called on U.S. Attorney General Eric H. Holder, Jr. to investigate and stop insurance company practices that may deny consumers the right to choose their own automobile repair shop. Holding petitions from auto repairer associations from across the country, Blumenthal said […]
Testing is the Real Measure of Aftermarket Part Equivalency
Aftermarket parts manufacturer Diamond Standard is one company that takes issue with the idea that aftermarket parts cannot equal OEM. The company says there absolutely are some aftermarket parts that are the equivalent of OEM, and they have the testing to back it up. According to Geoff Crane, Business Development Manager, Diamond Standard, the company […]
SCRS Asks U.S. Attorney General to Investigate Antitrust Violations
The Society of Collision Repair Specialists (SCRS) announced that it is joining the efforts of a number of collision repair organizations across the country in its request to the Department of Justice, and U.S. Attorney General Eric Holder, to investigate violations of federal antitrust laws by automobile insurance companies. “Stemming from the circulation of a […]