The Cambridge Automotive Group (CAG) announced it has acquired two Maaco locations in Austin and Lancaster Texas. has acquired an existing Maaco location in Lancaster, TX. With these acquisitions, CAG now owns more than 30 Maaco shops across the country. Maaco Austin is located at 10200 N. Lamar Blvd. in Austin and Maaco Lancaster is […]
Caliber Golf Tournament Raises More than $100,000 for American Heart Association
Caliber Collision teammates, partners and friends played their hearts out at the 2nd annual Caliber Classic and raised more than $100,000 to help the American Heart Association fight heart disease. Proceeds from the golf tournament hosted by Caliber at The Tribute at The Colony Golf Club last week went towards a $4 million fundraising goal […]
Boyd Group Reports 8.2 percent Increase in Revenue for First Quarter
Same store sales up 1.2 percent, impacted by mild winter weather and currency conversion. The Boyd Group Income Fund (TSE:BYD.UN) today reported its financial results for the three-month period ended March 31. According to the multiple collision repair shop operator, sales increased by 8.2 percent to CA$378.9 million ($277.2 million) from CA$350.4 million ($256.3 million) […]
Small Business Optimism Still High but Expectations for Future Decline
The National Federation of Independent Business Small Business Optimism Index hovers near record levels, but expectations for future business conditions plunge over concerns on Obamacare repeal. The National Federation of Independent Business (NFIB) Index of Small Business Optimism posted another historically high reading in April, but expectations for future business conditions plunged by eight points, […]
Axalta Announces Winner of 2016 Refinish Sustainable Star Award
Axalta Coating Systems (NYSE:AXTA) announced that Marshall Auto Body of Waukesha, Wisc. has been named the 2016 Sustainable Star Award winner. In its inaugural year, the award recognizes refinish customers in North America that implement sustainable initiatives to not only benefit the bottom line, but also assist in preserving the environment. Marshall Auto Body is […]
Today’s Guild 21 Concall Examines Autonomous Vehicle Impact on Collision Repair Shops
The next Guild 21 conference call, that takes place today at 2 p.m. EST (11:00 a.m. PST), will feature Hod Lipson, PhD, Professor of Engineering and Data Science at Columbia University, in New York City. Lipson will examine the impact of autonomous vehicles on the collision repair industry. Lipson is co-author of the award winning […]
Auto Care Association Meets with Canadian and Mexican Associations
Automotive aftermarket associations reaffirm commitment to NAFTA. The Auto Care Association hosted a meeting with Automotive Industries Association of Canada (AIA Canada) and Asociación Nacional de Representantes, Importadores y Distribuidores de Refacciones y Accesorios para Automóviles, A.C. (ARIDRA) during its Spring Leadership Days in San Antonio, Texas on May 2. The purpose of the meeting […]
LKQ Subsidiary Acquisition Faces Possible In-Depth Probe by UK Competition Authority
The United Kingdom Competition and Markets Authority (CMA) announced today that Euro Car Parts’ acquisition of Andrew Page faces an in-depth merger probe, unless it offers acceptable ways of addressing competition concerns. Euro Car Parts, the UK-based subsidiary of LKQ Corporation (NASDAQ:LKQ) announced in October 2016 it was acquiring Andrew Page Limited, a distributor of […]
Property/Casualty Insurers Report $4.7 Billion Net Underwriting Loss in 2016
While suffering an underwriting loss, the industry reported net income of $42.6 Billion, a 25 percent decline from 2015. Private U.S. property/casualty insurers suffered a $4.7 billion net underwriting loss in 2016, following an $8.9 billion net underwriting gain in 2015, and experienced a 25 percent drop in net income after taxes to $42.6 billion from […]
PPG Issues Statement on AkzoNobel Decision
Says it will assess and decide whether or not to continue to pursue an offer. PPG (NYSE:PPG) today issued a statement on its merger proposal to AkzoNobel (AKZA.AS:AKZOY). On Monday, AkzoNobel rejected PPG’s third offer. According to the PPG statement: PPG has reviewed AkzoNobel’s May 8, 2017, response to PPG’s revised proposal of April 24, […]
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