Service King Collision Repair Centers has finalized the acquisition of Sterling Collision Centers that was announced in April. Service King now operates 175 locations across 20 states. “Acquiring a company like Sterling Collision Centers is about more than expanding our network with bricks and mortar. The strength of our organization lies within our people and […]
Service King Acquires 62 Sterling Stores, Boyd Acquires 25 Collision Revision Locations
Two big acquisitions were announced yesterday. Collision repairers in 16 states are waking up this morning to a new competitive landscape as Service King Collision Repair Centers announced that it has reached an agreement to acquire Sterling Collision Centers and its 62 stores. This acquisition will bring the total number of Service King locations to […]
AAIA and CARE Conclude Voluntary Information Sharing Agreement with Auto Manufacturers
Agreement brings to a close “Right to Repair” effort that began in 2001 to legislate open access to vehicle repair information. Groups will oppose further state legislation. The Alliance of Automobile Manufacturers (Alliance), the Association of Global Automakers (Global), the Automotive Aftermarket Industry Association (AAIA), and the Coalition for Automotive Repair Equality (CARE) announced their […]
KKR Acquires Mitchell International
Aurora Capital Group sells the stake in Mitchell that it acquired in 2007. Mitchell International announced yesterday that it has executed a definitive agreement with KKR whereby Aurora Capital Group will exit its equity position and transition ownership to KKR. Financial terms of the transaction were not disclosed. Aurora led an investment group that acquired […]
Investcorp Completes Sale of CCC to Leonard Green & Partners
Investcorp confirmed that it has successfully completed the sale of CCC Information Services to the Los Angeles based private equity firm Leonard Green & Partners, L.P. Terms of the transaction were not disclosed however Investcorp noted that the sale of CCC unlocks over $550 million in proceeds for Investcorp and its investors. CCC was a […]
CCC to Get New Controlling Interest Investor
CCC Information Services Inc. announced that the private equity firm Leonard Green & Partners has entered into a definitive agreement to acquire a controlling interest in the company from Investcorp. Committed debt financing has been provided by affiliates of Goldman Sachs, including its principal mezzanine funds, and J.P. Morgan. Terms of the transaction were not […]
The Carlyle Group to Acquire Service King Collision Repair Centers
The investment firm The Carlyle Group, together with management and employees of Service King Collision Repair Centers, announced they will acquire majority ownership in the chain of auto body repair shops. Founder Eddie Lennox will retain a significant ownership stake in Service King. Chief Executive Officer Cathy Bonner will become Chairman representing Lennox on the […]
Assured Performance and CARFAX Sign Reporting Deal
Assured Performance Network announced that they have entered into an agreement with CARFAX to report when a vehicle is repaired using 100 percent OEM Collision repair parts if it is already reported as damaged. The repair reporting also requires the shop and consumer’s permission. Buyers and sellers of used cars will now have information about […]
DuPont Names Vanlancker VP of Performance Coatings for EMEA Region
DuPont named Thierry Vanlancker as Vice President of Performance Coatings for the company’s Europe-Middle East-Africa (EMEA) region, effective December 1. Vanlancker, 46, currently global business and market director for DuPont Fluorochemicals since 2006, has held a range of business leadership roles in sales, marketing and technical capacities since joining the company in 1988. His assignments […]
Sterling Autobody Completes System-Wide Waterborne Conversion
Sterling Autobody Centers announced it has completed its network-wide conversion to waterborne paint. The transition began in June and took less than three months to complete. All 62 Sterling locations are presently using the waterborne system. Sterling President Nick Notte said “I am pleased with the speed of the transition. I commend Sterling leadership for […]
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