The Collision Industry Electronic Commerce Association (CIECA) announced that the next CIECA Webinar will be held on Thursday, August 29 at 2 p.m. (EDT). Titled Curiosity Lab: Where Emerging Technology is Tested and Demonstrated, the one-hour live broadcast will feature Seth Yurman, the assistant city manager for the City of Peachtree Corners in Georgia. Yurman […]
Axalta Announces Record Second Quarter Sales of $1.35 Billion
Refinish net sales $546 million, up 5% year-over-year. Axalta Coating Systems Ltd. (NYSE: AXTA) announced its second quarter 2024 net sales increased 4.4% year-over-year to a quarterly record of $1.35 billion with positive contributions from all four end markets. Net income increased by $52 million year-over-year to $113 million. Adjusted net income improved by $50 […]
UK’s Steer Automotive Group Acquires 7-Location MSO in Southwest England
Steer Automotive Group, the largest collision repair facility operator in the U.K., announced the acquisition MG Cannon Ltd., the operator of six OEM certified repair facilities and a SMART cosmetic repair facility across the southwest England. This acquisition expands Steer’s regional footprint and support mutual client partners, strengthening Steer’s presence and service capacity along the […]
Six State Attorneys General Reach Settlement with Oil Change Franchisor Over Use of Non-Compete Agreements
Colorado Attorney General Phil Weiser and a coalition of six attorneys general from Illinois, Maryland, Massachusetts, Minnesota, New York, and Pennsylvania announced an agreement to end the use of non-compete agreements, that they alleged were unfair labor practices under state law, for hourly employees at oil change and auto services company Valvoline LLC, Valvoline Instant […]
SEMA Announces $99,000 in Scholarship and Loan Forgiveness Awards
The SEMA Memorial Scholarship Fund issued $99,000 in scholarship and loan forgiveness awards to help 46 individuals currently working or planning to pursue careers in the automotive aftermarket industry. The winners include 39 college students and seven employees of SEMA-member companies. “As the automotive-specialty equipment market grows, so does the need for talented, ready-to-work individuals […]
Early-Bird Registration for September 24-25 CIECA CONNEX Conference Extended to Friday
The Collision Industry Electronic Commerce Association (CIECA) announced that early-bird registration will be extended to Friday, August 2 for for its 15th annual conference. CONNEX 2024: The Intersection of Data & Mobility, will be held at the MGM Grand Detroit hotel in Detroit, Mich. on September 24-25. More information and registration for the event are […]
CCC Reports $232.6 Million Revenue in Second Quarter
Revenue for the quarter was up 10% year-over-year. Added over 600 collision repair facilities to its platform year-to-date. CCC Intelligent Solutions Holdings Inc. (NASDAQ: CCCS), today announced total revenue was $232.6 million for the second quarter of 2024 ended June 30, an increase of 10% from $211.7 million for the second quarter of 2023. “CCC […]
Fix Auto Canada Adds Collision Repair Center to Network in Quebec
Multi-shop owner Karim Zaidane has taken another step in his professional journey by opening his latest collision repair shop, Fix Auto Dorval A.M. With this new addition, Karim now owns two Fix Auto-branded collision repair shops and two ProColor Collision shops, both part of the Fix Network family. Karim’s fascination with luxury cars began in […]
Driven Brands Closes $275 Million Securitization Issuance to Refinance Debt
Driven Brands Holdings Inc. (NASDAQ: DRVN) announced that it has closed an offering by its subsidiaries for $275 million of Series 2024-1 Fixed Rate Senior Secured Notes, Class A-2 (A-2 Notes) maturing October 2054 and with an anticipated repayment date in October 2031. The proceeds from the issuance will be used to refinance the Company’s […]
Law in California to Expand Inspection of Vehicle Safety Components Takes Effect on Rebuilt Salvage Vehicles
New law also allows BAR to collect additional information from repair facilities on training and certifications. California motorists are now further protected from unsafe vehicles with the implementation of AB 471 (Low, Chapter 372, Statutes of 2021), a measure that expands the inspection of vehicle safety components and systems. The new law took effect July […]
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