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 […]
Investcorp Completes Sale of CCC to Leonard Green & Partners
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 […]
CCC to Get New Controlling Interest Investor
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 […]
Three Massachusetts Repair Associations Unite
On May 24, three Massachusetts collision repair and automotive service associations became united in a historic undertaking. During a special industry dinner meeting held in Marlborough, Ma., the three associations – the Alliance of Automotive Service Providers of Massachusetts (AASP/MA), the Massachusetts Auto Body Association (MABA) and the Central Massachusetts Auto Rebuilders Association (CMARA) – […]
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 […]