VIVE Collision has acquired Above All Collision Center in Concord, N.H., the Northeast multiple shop operator announced Sept. 30, adding a collision repair facility in the state capital. Financial terms were not disclosed. Located at 45 Chenell Drive, the shop will operate as Above All Collision Center, Powered by VIVE. It offers collision repair and […]
AkzoNobel Completes Sale of Pakistan Business to Packages Group
AkzoNobel has completed the sale of Akzo Nobel Pakistan Limited to IGI Investments (Pvt.) Limited, part of Pakistani conglomerate Packages Group, closing a transaction first announced in April at an enterprise value of approximately €50 million ($56.7 million), or 16.2 billion Pakistani rupees. The deal represents an EV/EBITDA multiple of 14x and includes AkzoNobel’s decorative […]
Australia Competition Regulator Blocks IAG Acquisition of RAC Insurance
The Australian Competition and Consumer Commission (ACCC) on Sept. 23 ordered Insurance Australia Group Ltd. (ASX: IAG) not to proceed with its proposed acquisition of RAC Insurance (RACI), concluding after an in-depth Phase 2 assessment that the deal would substantially lessen competition in motor vehicle insurance and home and contents insurance in Western Australia. IAG […]
UK Competition Regulator Launches Phase 1 Review of AkzoNobel-Axalta Merger
The U.K. Competition and Markets Authority (CMA) has formally launched its phase 1 merger inquiry into the proposed combination of Akzo Nobel N.V. and Axalta Coating Systems Ltd., setting a Nov. 11 deadline to decide whether to refer the roughly $25 billion all-stock deal for an in-depth phase 2 investigation. The CMA launched the inquiry […]
Copart Launches Tender Offer for ACV Auctions Shares, Sets Sept. 30 Expiration
Copart, Inc. (NASDAQ: CPRT) has launched its tender offer for all outstanding shares of ACV Auctions Inc. (NYSE: ACVA) at $10.50 per share in cash, moving forward with the approximately $1.9 billion acquisition the companies announced Sept. 10. The offer, commenced Sept. 17 through Apple Merger Sub, Inc., a wholly owned Copart subsidiary, is scheduled […]
Colours Acquires Stephens Auto in Hornell, New York
Colours Inc. has acquired Stephens Auto Inc. of Hornell, N.Y., a deal that gives the paint, body and equipment distributor five locations in New York State. Terms were not disclosed. Stephens Auto has served the Hornell-area automotive market for decades, according to Colours, which said it will bring its product lines, technical expertise, training, inventory […]
Copart to Acquire ACV Auctions for $1.9 Billion, Expanding Into Dealer Wholesale
Copart, Inc. (NASDAQ: CPRT) has agreed to acquire ACV Auctions Inc. (NYSE: ACVA) for $10.50 per share in cash, valuing the digital wholesale vehicle marketplace at approximately $1.9 billion and extending the salvage auction operator into the dealer-to-dealer channel for the first time. The $10.50 per-share price represents a premium of approximately 45% to ACV […]
VIVE Collision Reaches 81 Locations With Vermont Acquisition
VIVE Collision has acquired Jasmin Auto Body in White River Junction, Vt., a deal announced Sept. 9 that brings the Northeast multiple shop operator to 81 locations and deepens its presence in Vermont’s Upper Valley. Financial terms were not disclosed. The purchase is VIVE’s second announced acquisition in seven days. Jasmin Auto Body was founded […]
VIVE Collision Reaches 80 Locations with Pennsylvania Acquisition
Acquires first facility in Pittsburgh market. VIVE Collision has acquired Joe DiIorio Auto Body in Homestead, Pa., a deal announced Sept. 2 that brings the Northeast multiple shop operator to 80 locations and gives it its first collision repair facility in the greater Pittsburgh market. Joe DiIorio Auto Body has operated as a family-owned business […]
AkzoNobel and Axalta Name Final Three Directors to Combined Company Board
AkzoNobel and Axalta Coating Systems have named the last three directors of the board that will govern the company the two are merging to create, completing an 11-member slate more than three months before the transaction is expected to close. Stephan B. Tanda, Denise C. Johnson and Robert Schuchna have agreed to serve as non-executive […]