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 […]
OMERS Private Equity Acquires Caliber Collision Centers
OMERS Private Equity (OPE) announced that it, along with existing management, has acquired Caliber Collision Centers from private equity firm ONCAP. Terms of the transaction were not disclosed. Based in Dallas, Texas, Caliber operates a network of 157 collision centers located in Calif., Texas, Ariz., Nev., Okla. and Colo. The company has approximately 3,700 employees […]
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 […]
Judge Halts CCC Mitchell Merger
A district court judge has ordered that the merger between CCC Information Services and Mitchell International Inc. may not proceed until the completion of a full investigation by the Federal Trade Commission (FTC). As in many merger cases, the court’s decision may mean the end of the deal between the two companies unless they are […]
Caliber Collision Under New Ownership
Caliber Collision Centers announced that its senior management team, in partnership with a Canadian private equity firm, ONCAP, has become the company’s new owner in a deal that closed October 31. ONCAP is a mid-market private equity firm based in Toronto. The deal gives ONCAP ownership of the company along with certain members of senior […]
Liberty Mutual to Acquire Safeco Corporation
Liberty Mutual Group and Safeco Corporation announced that they have entered into a definitive agreement where Liberty Mutual will acquire all outstanding shares of Safeco for $68.25 per common share in cash. The proposed transaction, which is valued at approximately $6.2 billion, has been approved by the Boards of Directors of both companies. It is […]
Mitchell International and CCC Plan Merger
Two of the three main information providers agree to join forces. CollisionWeek has confirmed from several sources that Mitchell International and CCC Information Services have entered into a definitive agreement to merge the two companies. On Thursday night, some customers of CCC Information Services and Mitchell International had received telephone calls from the companies explaining […]
New Investment Group to Buy Mitchell International
Mitchell International, Inc., has signed a definitive agreement to sell the company to an investment group led by Aurora Capital Group and including General Electric Pension Trust. Aurora Capital Group is a Los Angeles-based investment firm formed in 1991 that acquires and builds companies in partnership with operating management. The Firm currently manages approximately $2 […]