According to a report by Bloomberg, Roark Capital is considering a sale of its stake in Driven Brands Inc., the parent of CARSTAR, Maaco and 1-800-Radiator and other automotive franchises. The article states the company could sell for as much as $2 billion according to sources. Roark Capital acquired Driven Brands in 2015 from Harvest […]
Refinish Distributors Alliance Adds New Member in Missouri
The Refinish Distributors Alliance (RDA) has added a new member Auto Color & Equipment in Independence, Mo. Auto Color & Equipment has been serving collision repair centers in the Kansas City area since 1983. They are a family owned business committed to their customers. Auto Color & Equipment are one of the only Axalta Coating […]
Hyundai Donates $50,000 to the NADA Foundation Workforce Initiative
Hyundai Motor America has contributed $50,000 to the National Automobile Dealers Association (NADA) Foundation’s Workforce Initiative. “We really like the NADA’s new approach to getting young people excited about being technicians, and Hyundai is committed to working side-by-side with NADA to accomplish this,” said Barry Ratzlaff, vice president and chief customer officer for Hyundai Motor […]
Small Business Optimism Index Increased in July
The NFIB Small Business Optimism Index defied expectations with increase. Optimism among small business owners bounced back in July as expectations for business conditions, real sales, and expansion made solid gains. The National Federation of Independent Business (NFIB) Small Business Optimism Index rose 1.4 points to 104.7, with seven of 10 components advancing, two falling, […]
IAA Reports Second Quarter Revenue Growth of 10%
Reports year-to-date revenue growth at 7.9% IAA, Inc. (NYSE: IAA) today announced consolidated revenues for the second quarter of 2019 that ended June 30 increased 10.0% to $366.4 million from $333.2 million in the second quarter of fiscal 2018, primarily due to increased volumes of approximately 6% and higher revenue per vehicle of approximately 4%. […]
The Hartford Announces Student Loan Repayment Plan for Employees
The Hartford announced a new student loan repayment program to help its employees pay down up to $10,000 in student debt. According to a recent study by Experian, student loan debt in the United States reached an all-time high in the first quarter of 2019 totaling $1.4 trillion, with an average student loan debt per […]
EPA Recognizes GM for Green Power Use
General Motors has earned a spot on the U.S. Environmental Protection Agency’s National Top 100 List of the largest green power users from the Green Power Partnership. Ranked No. 29, GM is the only automotive company on this list. GM is also No. 6 on the GPP’s Top On-Site Generation list and No. 14 on […]
Rob Pugh Joins Fix Auto UK as Strategy Consultant
Fix Auto UK has appointed Rob Pugh into its newly formed role of Strategy Consultant. The 23-year-old returns to the organization after his two-year internship while studying for his business degree, which he successfully achieved with first class honours. Rob’s role will support the Fix Auto UK Management Team with their five-year strategic plans to […]
AASP/NJ to Host ADAS Panel Discussion September 12
Meeting on advanced driver assistance systems will include opportunities for questions and answers for attendees. The Alliance of Automotive Service Providers of New Jersey (AASP/NJ) will host a special panel discussion on advanced driver-assistance system (ADAS) technology on Thursday, September 12 beginning at 6:30 p.m. at The Gran Centurions, 440 Madison Hill Road, Clark, NJ. […]
Universal Technical Institute Reports Revenue Up 5.9% in Fiscal Third Quarter
Universal Technical Institute, Inc. (NYSE: UTI) reported revenue increased 5.5% to $79.0 million for the fiscal 2019 third quarter ended June 30 compared to $74.9 million in 2018. According to the training provider, the increase was driven by higher average full-time enrollment. New student starts, excluding the Norwood, Mass. campus that will close in […]
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