Australia’s AMA Group Limited (ASX:AMA) announced the completion of the previously announced acquisition of Capital Smart Repairs Australia Pty Ltd (Capital SMART). Under the sale terms AMA owns 90% of Capital SMART, with Suncorp Insurance Ventures Pty Ltd (Suncorp) retaining a 10% holding in Capital S.M.A.R.T. The acquisition includes a long-term strategic service agreement of […]
Australia’s AMA Group to Acquire Capital SMART Collision Repair Business and ACM Parts from Insurer Suncorp
Insurer will retain 10 percent interest in Capital SMART and enters into long-term supply agreement. The AMA Group Limited (ASX:AMA) today announced an agreement with Suncorp Insurance Ventures Pty Ltd (Suncorp) to acquire 90 percent of Capital SMART Repairs Australia Pty Ltd in a transaction valuing the company at AUD$420 million ($280.3 million). AMA will […]
Robot 3D Prints Replacement Bracket onto Headlight Assembly
Australia’s Swinburne University of Technology reported that its Repairbot project has achieved a major milestone, using a robot to successfully 3D print a replacement lug on an automotive headlamp assembly. The Repairbot project is an industry collaboration with Tradiebot, supported by collision repair facility operator AMA Group, and backed by the federal government via the […]
AMA Group, Australian Robotics Firm Developing Collision Repair-Bot for Plastic Parts
The Advanced Manufacturing Growth Centre (AMGC) in Australia is supporting a collaborative project with Tradiebot Industries to deliver the world’s first automated vehicle panel repair system. As part of the project, Tradiebot Industries will collaborate with the University of New South Wales (UNSW) ARC Training Centre for Automated Manufacture of Advanced Composites (AMAC) on developing […]
AMA Group Announces Blackstone Acquisition of Collision Repair Business Will Not Proceed
Australia Tax Commissioner ruling against demerger relief scuppers $395 million acquisition. The AMA Group Limited (ASX:AMA) announced that its AU$508 million ($395.4 million) sale of its collision repair business to the U.S. private equity firm Blackstone will not proceed following its receipt of a formal response from the Deputy Commissioner of Taxation refusing AMA’s request […]
Blackstone to Acquire Australia-Based AMA Group’s Collision Repair Business for $395 Million
Private equity firm also owns Service King Collision Repair Centers Australia’s AMA Group (ASX:AMA) announced today that it will sell its collision repair business to the U.S. private equity firm Blackstone for AU$508 million ($395.4 million) and spin off its automotive component and accessory (ACAD) business into a new company that will remain listed on […]
Australia’s AMA Group Added 14 Collision Repair Centers in First Half
Revenue Up 27.4 percent in first six month of fiscal year to December 31. Costs of Blackstone Private Equity due diligence over AU$900,000 Australia’s AMA Group Ltd. (ASX:AMA) reported its results for the first six months of its Fiscal year that ended December 31, 2017. The firm reported revenue of AU$228.356 million ($176.9 million) for […]
Australia’s AMA Group Confirms Discussions on Sale of Collision Repair Unit to Blackstone
Proposal values collision repair business at AU$530 million Following an article in the Australian Financial Review, Australia’s AMA Group Ltd. (ASX:AMA) confirmed that had received a proposal from Blackstone Private Equity for its collision repair centers. The AMA group owns more than 90 collision repair centers in Australia and New Zealand with reported sales of […]
Australia’s AMA Group Acquires Seven Collision Repair Centers, Plans Three Greenfield Locations
The AMA Group provided an update on its expansion announced the acquisition of seven collision repair centers and plans for three new greenfield sites. These acquisitions will be funded using existing financial resources. The total anticipated consideration for the acquisition transactions is AU$6.23 million ($4.85 million) and will provide incremental revenue of AU$22.5 million ($17.57 […]
Australia’s AMA Group Acquires Six Collision Repair Centers, Plans Greenfield Locations
The AMA Group announced the acquisition of six collision repair centers and plans to open two greenfield locations. The acquisitions will be funded using existing cash resources. The total anticipated consideration for the acquisitions is AU$4.743 million ($3.576 million). The acquired business will provide incremental revenue of AU$26.9 million ($20.2 million) and earnings before interest, taxes, […]