The Boyd Group Income Fund (TSE:BYD.UN) announced that it has expanded its revolving credit facility to $400 million through the accordion feature available under its existing facility. “As we execute on our long-term growth strategy, we continue to see many attractive opportunities to make accretive acquisitions,” said Pat Pathipati, Executive Vice President and Chief Financial […]
IAA Announces Branch Expansions in Five States
Insurance Auto Auctions, Inc. (IAA), a business unit of KAR Auction Services (NYSE:KAR), announced expansions at branches in five states. The expansions have added more than 110 acres to IAA’s footprint in Alabama, Arkansas, Minnesota, New York, and Texas to address sellers’ logistical needs and provide increased inventory options for buyers. “By anticipating our current […]
LKQ Enters Diagnostic Services Business with Elite Electronics Acquisition
LKQ Corporation (NASDAQ:LKQ) announced that it has acquired Elite Electronics, the Richardson, Texas based automotive diagnostic and repair services firm. This acquisition launches LKQ into the vehicle services market, converging LKQ’s parts and distribution business with Elite’s services to further facilitate customers’ needs. Elite Electronics provides mobile and on-site diagnostics for automotive collision and mechanical […]
Massachusetts Multiple Collision Repair Shop Owner Charged in $170,000 Insurance Fraud Case
Attorney General alleges shop operator intentionally damaged vehicles to increase insurance payments. The owner of two collision repair shops in Massachusetts has been indicted in connection with a motor vehicle fraud scheme in which he allegedly intentionally damaged vehicles and stole more than $170,000 from 11 different insurance companies, Attorney General Maura Healey announced April […]
Collision Repair Education Conference Scheduled for Carolinas May 18-19
The inaugural Carolina’s Educational Collision Conference (CECC) will take place on May 18-19 at the Cabarrus Arena at 4551 Old Airport Rd. in Concord, N.C. The educational event for collision repair industry professionals in the Carolinas features classes and seminars from industry-leading speakers, along with vendors, giveaways, auctions and food all around NASCAR All-Star Race […]
Brian Plott Named ETI Executive Director
Brian Plott has been named Executive Director of the Equipment and Tool Institute (ETI). Plott brings over 25 years of experience in aftermarket tool and equipment sales, OEM diagnostics, executive level new business development, and strong relationships across the automotive industry. Plott has held equipment sales management roles with Bosch Automotive Service Solutions, ITW Food […]
Boyd Group Acquires Seven Collision Repair Centers in Oregon and Washington State
The Boyd Group Inc. announced the March 29 acquisition of seven collision repair centers in Oregon and Washington. Two facilities are in Beaverton and Portland, Ore., and five in Washington State ‒ two in Seattle, and one each in Burien, Kent and Olympia. These repair centers were all previously operated by Noel Pennington, who started […]
MEMA Policy Breakfast to Address Auto Parts Tariff Threats on April 9
The Motor & Equipment Manufacturers Association (MEMA) will hold a policy panel discussion titled Tariffs on Autos and Auto Parts: Auto Parts Are Not a Threat to National Security on April 9, at the National Press Club in Washington, D.C. Now that the Department of Commerce has completed a Section 232 national security investigation of […]
Enterprise Rent-A-Car UK to Buy Commercial Vehicle Rental Company SHB Hire
Enterprise Rent-A-Car UK announced that it has signed an agreement to acquire Romsey-based SHB Hire, an award-winning family-owned vehicle hire and management business. The acquisition will provide Enterprise with the opportunity to create one of the largest commercial vehicle rental companies in the country. With more than 100,000 vehicles, Enterprise is already the UK’s largest […]
Study Shows Insurers Adopting Predictive Analytics and AI to Combat Insurance Fraud
Traditional anti-fraud technology tools are giving way to advanced analytics as insurance fraud rises, insurers say in a study of insurtech trends. The biennial study was conducted by the Coalition Against Insurance Fraud, assisted by the analytics firm SAS across 84 insurer participants. Fraud has risen over the last three years, about two-thirds of insurers […]
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