Hertz Global Holdings, Inc. (OTCPK: HTZGQ) today announced the completion of the sale of its wholly-owned subsidiary, Donlen Corporation to Athene Holding Ltd. (NYSE: ATH) that was announced in November. Hertz received $891 million in cash proceeds per the terms of the transaction, subject to certain adjustments post-closing based on the level of assumed indebtedness, […]
Allstate Completes Exit of Life and Annuity Businesses
The Allstate Corporation (NYSE: ALL) has agreed to a transaction in which Wilton Re will pay $220 million to acquire Allstate Life Insurance Company of New York (ALNY). The transaction is expected to close in the second half of 2021, subject to regulatory approval and other closing conditions. This transaction, along with the agreement announced […]
asTech Acquires Red EU and Red Autocentres
Repairify, Inc., the parent of asTech announced today the acquisition of UK-based Red (EU) Limited and Red Autocentres. Red (EU) Limited is a distributor of aftermarket electronic devices designed to run diagnostic tests and calibration services on automotive electrical systems, specifically advanced driver-assistance systems (ADAS). Red Autocentres is a provider of automotive diagnostics, calibration and […]
The Hartford Board Rejects Chubb Acquisition Proposal
The Hartford (NYSE:HIG) today announced that its board of directors, after consultation with its financial and legal advisors, has unanimously rejected Chubb Limited’s March 11, unsolicited proposal to acquire The Hartford and determined that entering into discussions regarding a strategic transaction would not be in the best interests of the company and its shareholders. The […]
Classic Collision Acquires Collision Repair Center in Atlanta
Classic Collision, LLC announced it acquired Bentley’s Collision Center in the Atlanta, Ga. market. Classic Collision now has 31 Georgia locations and operates 66 centers total in Georgia, Florida, Alabama, South Carolina, and California. Bentley’s Collision Center is a family owned and operated Certified Body Shop that has been in business for over 41 years. […]
Chubb Limited Proposes to Acquire The Hartford
Chubb Limited (NYSE:CB) and The Hartford (NYSE:HIG) confirmed that Chubb made an unsolicited offer to acquire the company. The Hartford was the 20th largest private passenger automobile insurer in the U.S. with over $2 billion premiums written in 2019 and the 12th largest commercial auto insurer with over $775 million in premiums written. Chubb is […]
SPAC Merger Talks Involving Solera Holdings Reportedly Halted
Bloomberg yesterday reported that merger talks have halted between the special purpose acquisition company (SPAC) Apollo Strategic Growth Capital (APSG) and Vista Equity Partners to merge with three of Vista’s automotive software portfolio companies, including Solera Holdings. According to Bloomberg, the talks involved a potential $15 billion transaction that would have merged Solera Holdings, Inc., […]
LKQ Acquires Nebraska-Based Mobile Diagnostics Company
LKQ Corporation announced that it is acquiring Greenlight Automotive, a Nebraska-based automotive mobile diagnostic services business. Initially, until all systems are converted, Greenlight will continue to operate under its current branding. By year end, Greenlight will officially migrate to Elitek Vehicle Services branding. Through Greenlight, Elitek continues to expand its national coverage to include the […]
Classic Collision Acquires Multiple Collision Repair Shop Operator in California
Company now has 12 locations in the state, 65 in five states. Classic Collision, LLC, the multi-site collision repair operator based in Atlanta, Ga., announced its third multi-shop acquisition in California with the acquisition of all three Signature Auto Collision locations in the San Bernardino market. Classic Collision now has 12 California locations and operates […]
Private Equity Firm American Pacific Group and Gray Eagle Capital Partners Launch Aesop Auto Parts with Wayne Auto Salvage Acquisition
American Pacific Group (APG), a San Francisco-based private equity firm, announced today that, together with Allam Taj and Christoph Ganz of Gray Eagle Capital Partners, it has formed Aesop Auto Parts, a company that will serve as a platform to acquire and grow progressive auto recycling businesses. Simultaneously, Aesop acquired Wayne Auto Salvage, an established […]
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