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Senator Urges FTC to Take Action Against Misleading Warranty Tactics by Vehicle Manufacturers

October 28, 2014 By CollisionWeek Editor

The Auto Care Association reported that U.S. Senator Richard Blumenthal of Connecticut has written the Federal Trade Commission (FTC) about its lack of urgency in clarifying its interpretation of the Magnuson-Moss Warranty Act. In a letter to the FTC, Sen. Blumenthal said, “Many motorists may have been led to believe… that going to a local […]

Filed Under: News Tagged With: Auto Care Association, Federal Trade Commission, Magnuson-Moss Warranty Act, Senator Blumenthal

Carlyle Sells Majority Stake in Service King

July 23, 2014 By CollisionWeek Editor

Two years after acquiring the multiple shop operator, the Carlyle Group is selling a majority stake to the private equity firm Blackstone Group LLP that reportedly values the business at $650 million. Service King Collision Repair Centers announced that private equity funds controlled by Blackstone (NYSE: BX) will recapitalize one of the largest independent U.S. […]

Filed Under: News Tagged With: Blackstone Group, Carlyle Group, Service King Collision Repair Centers

LKQ Corporation and Chrysler Sign Patent License Agreement, End Lawsuit

July 1, 2014 By CollisionWeek Editor

Agreement brings end to lawsuit filed by Chrysler in January. LKQ Corporation announced it has entered into a Patent License Agreement with Chrysler Group LLC that grants LKQ a license under certain Chrysler design patents in connection with LKQ’s distribution and sale of aftermarket collision parts in the United States. As part of the agreement, […]

Filed Under: News Tagged With: Agreements Signed, Chrysler, Design Patents, Lawsuits, LKQ Corporation, Non-OEM Parts

Barrett Smith to Address Auto Body Association of Texas Inaugural Meeting June 18

June 10, 2014 By CollisionWeek Editor

Barrett Smith, AAM, President and founder of Auto Damage Experts, Inc. (ADE) will make a presentation to members and guests of the newly formed Auto Body Association of Texas (ABAT) during its first meeting on Wednesday, June 18th, from 11:30 a.m. until 2:00 p.m. The meeting is being held at the Henderson Civic Center located […]

Filed Under: News Tagged With: Auto Body Association of Texas

Service King Finalizes Sterling Acquisition

June 4, 2014 By CollisionWeek Editor

Service King Collision Repair Centers has finalized the acquisition of Sterling Collision Centers that was announced in April. Service King now operates 175 locations across 20 states. “Acquiring a company like Sterling Collision Centers is about more than expanding our network with bricks and mortar. The strength of our organization lies within our people and […]

Filed Under: News Tagged With: Acquisitions, Service King Collision Repair Centers, Sterling Autobody Centers

Service King Acquires 62 Sterling Stores, Boyd Acquires 25 Collision Revision Locations

April 15, 2014 By CollisionWeek Editor

Two big acquisitions were announced yesterday. Collision repairers in 16 states are waking up this morning to a new competitive landscape as Service King Collision Repair Centers announced that it has reached an agreement to acquire Sterling Collision Centers and its 62 stores. This acquisition will bring the total number of Service King locations to […]

Filed Under: News Tagged With: Acquisitions, Boyd Group, Service King Collision Repair Centers, Sterling Autobody Centers

AAIA and CARE Conclude Voluntary Information Sharing Agreement with Auto Manufacturers

January 23, 2014 By CollisionWeek Editor

Agreement brings to a close “Right to Repair” effort that began in 2001 to legislate open access to vehicle repair information. Groups will oppose further state legislation. The Alliance of Automobile Manufacturers (Alliance), the Association of Global Automakers (Global), the Automotive Aftermarket Industry Association (AAIA), and the Coalition for Automotive Repair Equality (CARE) announced their […]

Filed Under: News Tagged With: Agreements Signed, Alliance of Automobile Manufacturers, Association of Global Automakers, Automotive Aftermarket Industry Association, Coalition for Auto Repair Equality, Right to Repair

OMERS Private Equity Acquires Caliber Collision Centers

November 21, 2013 By CollisionWeek Editor

OMERS Private Equity (OPE) announced that it, along with existing management, has acquired Caliber Collision Centers from private equity firm ONCAP. Terms of the transaction were not disclosed. Based in Dallas, Texas, Caliber operates a network of 157 collision centers located in Calif., Texas, Ariz., Nev., Okla. and Colo. The company has approximately 3,700 employees […]

Filed Under: News Tagged With: Acquisitions, Caliber, OMERS Private Equity, ONCAP

KKR Acquires Mitchell International

September 6, 2013 By CollisionWeek Editor

Aurora Capital Group sells the stake in Mitchell that it acquired in 2007. Mitchell International announced yesterday that it has executed a definitive agreement with KKR whereby Aurora Capital Group will exit its equity position and transition ownership to KKR. Financial terms of the transaction were not disclosed. Aurora led an investment group that acquired […]

Filed Under: News Tagged With: Acquisitions, Aurora Capital Group, KKR, Mitchell International, Private Equity

Investcorp Completes Sale of CCC to Leonard Green & Partners

January 16, 2013 By CollisionWeek Editor

Investcorp confirmed that it has successfully completed the sale of CCC Information Services to the Los Angeles based private equity firm Leonard Green & Partners, L.P. Terms of the transaction were not disclosed however Investcorp noted that the sale of CCC unlocks over $550 million in proceeds for Investcorp and its investors. CCC was a […]

Filed Under: News Tagged With: Acquisitions, CCC, Leonard Green & Partners, Private Equity

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