Axalta Coating Systems Ltd. announced today it has commenced an initial public offering of 45 million of its common shares. The shares will be offered by affiliates of The Carlyle Group. The anticipated initial offering price is between $18.00 and $21.00 per share. The move has been expected since August when CollisionWeek reported the company […]
VeriFacts Announces Award Finalists
VeriFacts Automotive, LLC announced today the finalists for the VeriFacts Automotive Achievement in Collision Repair Excellence (ACE) Awards. The winners of the ACE Awards will be announced on November 6th at the 2014 Collision Industry Conference (CIC) held in conjunction with the Specialty Equipment Market Association (SEMA) tradeshow in Las Vegas, Nevada. Dale Delmege Award […]
Senator Urges FTC to Take Action Against Misleading Warranty Tactics by Vehicle Manufacturers
The Auto Care Association reported that U.S. Senator Richard Blumenthal of Connecticut has written the Federal Trade Commission (FTC) about its lack of urgency in clarifying its interpretation of the Magnuson-Moss Warranty Act. In a letter to the FTC, Sen. Blumenthal said, “Many motorists may have been led to believe… that going to a local […]
Carlyle Sells Majority Stake in Service King
Two years after acquiring the multiple shop operator, the Carlyle Group is selling a majority stake to the private equity firm Blackstone Group LLP that reportedly values the business at $650 million. Service King Collision Repair Centers announced that private equity funds controlled by Blackstone (NYSE: BX) will recapitalize one of the largest independent U.S. […]
LKQ Corporation and Chrysler Sign Patent License Agreement, End Lawsuit
Agreement brings end to lawsuit filed by Chrysler in January. LKQ Corporation announced it has entered into a Patent License Agreement with Chrysler Group LLC that grants LKQ a license under certain Chrysler design patents in connection with LKQ’s distribution and sale of aftermarket collision parts in the United States. As part of the agreement, […]
Barrett Smith to Address Auto Body Association of Texas Inaugural Meeting June 18
Barrett Smith, AAM, President and founder of Auto Damage Experts, Inc. (ADE) will make a presentation to members and guests of the newly formed Auto Body Association of Texas (ABAT) during its first meeting on Wednesday, June 18th, from 11:30 a.m. until 2:00 p.m. The meeting is being held at the Henderson Civic Center located […]
Service King Finalizes Sterling Acquisition
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 […]
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