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You are here: Home / Archives for Blackstone Group

Allstate to Sell Life Insurance Business for $2.8 Billion to Focus on Personal Property Insurance and Protection Business Growth

January 27, 2021 By CollisionWeek Editor

The Allstate Corporation (NYSE: ALL) has agreed to sell Allstate Life Insurance Company (ALIC) to entities managed by Blackstone for $2.8 billion. ALIC holds approximately 80% (or $23 billion) of Allstate’s life and annuity reserves and generated net income of $467 million in 2019 and a net loss of $23 million in the first nine […]

Filed Under: News Tagged With: Acquisitions, Allstate, Blackstone Group

AMA Group Announces Blackstone Acquisition of Collision Repair Business Will Not Proceed

June 22, 2018 By CollisionWeek Editor

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 […]

Filed Under: News Tagged With: Acquisitions, AMA Group, Australia, Blackstone Group

Blackstone to Acquire Australia-Based AMA Group’s Collision Repair Business for $395 Million

April 13, 2018 By CollisionWeek Editor

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 […]

Filed Under: News Tagged With: Acquisitions, AMA Group, Australia, Blackstone Group

Australia’s AMA Group Added 14 Collision Repair Centers in First Half

March 2, 2018 By CollisionWeek Editor

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 […]

Filed Under: News Tagged With: Acquisitions, AMA Group, Australia, Blackstone Group, Earnings, Private Equity

Australia’s AMA Group Confirms Discussions on Sale of Collision Repair Unit to Blackstone

January 29, 2018 By CollisionWeek Editor

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 […]

Filed Under: News Tagged With: Acquisitions, AMA Group, Australia, Blackstone Group

Service King Reportedly Up for Sale

February 15, 2017 By CollisionWeek Editor

Private equity firms rumored to be considering exiting their position in collision repair facility operator. Service King Collision Repair Centers may be up for sale according to an article published Monday by Bloomberg. Founded in 1976 by Eddie Lennox in Texas, the collision repair chain now operates 309 locations in 23 states. According to unnamed […]

Filed Under: News Tagged With: Blackstone Group, Carlyle Group, Private Equity, Service King Collision Repair Centers

Carlyle Sells Majority Stake in Service King

July 23, 2014 By CollisionWeek Editor

Two years after acquiring the multiple shop operator, the Carlyle Group is selling a majority stake to the private equity firm Blackstone Group LLP that reportedly values the business at $650 million. Service King Collision Repair Centers announced that private equity funds controlled by Blackstone (NYSE: BX) will recapitalize one of the largest independent U.S. […]

Filed Under: News Tagged With: Blackstone Group, Carlyle Group, Service King Collision Repair Centers

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