This week, President Joe Biden signed the Infrastructure Investment and Jobs Act into law. The president’s signature was the culmination of months of negotiation over the bill, which totals $1.2 trillion and includes $550 billion in new money for the nation’s infrastructure. According to an analysis by the Automotive ServicefAssociation (ASA), the legislation will make […]
OSHA Suspends Private Employer Vaccine Mandate Pending Further Court Orders
Announcement follows court order granting stay of the emergency temporary standard that was scheduled to take effect in December. The Occupational Safety and Health Administration (OSHA) announced on its website that it would “take no steps to implement or enforce” until it receives further court orders due to pending rulings in Federal Court on the […]
Crash Champions Acquires Two Collision Repair Centers in San Diego Metro Area
Crash Champions, LLC announced it has acquired two collision repair centers in the San Diego, Calif. metropolitan area owned and operated by collision industry veteran Dan Greenwald and his family. This acquisition further strengthens Crash Champions’ presence in the Southern California region, now at 28 locations, and marks the Company’s fourth location in the metro […]
Caliber Collision Partners with Bosch for Diagnostic Scanning
Caliber Collision announced a new strategic relationship with Bosch, the global supplier of automotive aftermarket components and service solutions. A next-generation diagnostic scanning and technology platform from Bosch is expected to be implemented in all Caliber Collision centers by the end of 2022. The Bosch product features new original equipment manufacturer (OEM) scanning software that […]
State Farm Ventures Among Investors in AI-Computer Vision Company
Nexar’s network of dash cameras collect more images that are being used to create a complete digital twin of U.S. roads. Nexar, an artificial intelligence (AI) computer vision company, announced the completion of a $53 million Series D funding round led by Qumra Capital with the participation of State Farm Ventures, Catalyst Investments, Banca Generali, […]
Maaco Recognizes Top Franchisees During Virtual Summit
Maaco announced its annual award winners as part of its its 2021 virtual summit, themed, the Power of Better, on November 17. Over the last year, the entire Maaco family has committed to elevating its brand, providing better customer service, creating a better team, simply put; being better in every facet of its business. That’s […]
Sentinel Capital Partners Acquires Empire Auto Parts
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 […]
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