According to a report by Reuters today, private equity firm Genstar Capital is considering the sale of OEConnection that could value the provider of ecommerce tools for collision repair parts and OEM certified repair network management at up to $5 billion. According to Reuters report, Genstar has engaged investment bankers to advise on a potential […]
G&C Auto Body Acquires Chico, California Collision Repair Facility
G&C Auto Body announced it has acquired Miracle Auto Body in Chico, Calif., adding to its network of more than 50 locations across northern California. The acquired shop at 2304 Park Avenue strengthens the company’s presence in the Chico market and will be rebranded as G&C Auto Body – Chico and is scheduled to open […]
Classic Collision Acquires Louisiana Repair Facility
Classic Collision LLC acquired Auto Craft Inc., a collision repair shop in Gretna, La., the Atlanta-based company announced Friday. Auto Craft has operated in Gretna for 49 years as a family-owned business. Classic Collision, founded in 1983, operates 341 collision repair facilities nationwide and ranks among the largest privately held auto body repair providers in […]
BASF Reported Launching Next Round of Bidding for Coatings Business
A smaller group of potential acquirers expected to participate next month. The sale of BASF’s coatings business is moving to the next round of offers from a short list of bidders in August according to a report in Bloomberg. According to the report, based upon anonymous sources familiar with the matter, AkzoNobel and several private […]
Fisher Auto Parts Acquires 7 Genden Auto Parts Stores in New England
Fisher Auto Parts announced the acquisition of Genden Auto Parts, a second-generation family business with over 70 years of service. This acquisition significantly strengthens Fisher Auto Parts’ presence in the New England market. Genden Auto Parts operates seven locations across western Massachusetts, northern Connecticut, southern Vermont and southwestern New Hampshire. John Lamoureux, owner of Genden […]
Focus Advisors and Veritas Advisors Merge M&A Operations
Focus Advisors and Veritas Advisors announced a merger that combines the two established mergers and acquisitions (M&A) advisory firms serving the automotive collision repair sector. The deal brings together Focus CEO David Roberts and Veritas Founder John Walcher, along with their respective teams. The combined firm has advised on more than 120 automotive services transactions, […]
Car Center Collision Partners with Fox Motors, Opens New Repair Center
Car Center Collision Repair announced it has entered into a partnership with Fox Motors in Grand Rapids, Mich to serve as the dealership group’s direct referral collision repair partner for eight brands: Acura, Ford, Honda, Hyundai, Kia, Mazda, Nissan and Subaru. As part of the agreement, Car Center Collision purchased the former Fox Shine Car […]
Wren’s Collision Group Acquires Repair Facility in Marietta, Georgia
Wren’s Collision Group announced today it has acquired Pugmire Collision, expanding the family-owned company’s operations into the Marietta, Ga. market. The newly acquired repair facility is Wren’s 19th location. The company said it will retain Pugmire’s existing staff and maintain current service standards. “Our growth is always guided by our purpose—to serve with integrity, provide […]
Aviva Completes $5 Billion Acquisition of Direct Line to Become Largest Auto and Home Insurer in the UK
Combined group will have nearly 20% of UK auto insurance market, operate 47 collision repair centers. Aviva announced yesterday the completion of its £3.7 billion ($5.03 billion) acquisition of Direct Line Group (DLG) to become the United Kingdom’s largest auto and home insurance company. Amanda Blanc, Group Chief Executive Officer, Aviva plc said, “The completion […]
AkzoNobel to Sell AkzoNobel India to JSW Group
Akzo Nobel N.V. has signed an agreement to sell its shareholding in Akzo Nobel India Limited (ANIL) to the JSW Group, one of India’s leading diversified conglomerates. The transaction is based on a total enterprise value of approximately €1.4 billion ($1.64 billion), representing an EV/EBITDA multiple of 22x, and includes AkzoNobel’s liquid paints and coatings […]