OEConnection LLC (OEC) and Genstar Capital announced they have finalized the deal for Genstar to acquire a majority stake in OEC from Providence Equity Partners that was announced in August. Current investors, Ford Motor Company and General Motors, will each retain their minority investments in the Company. Financial terms of the transaction were not disclosed. […]
Private Equity Firm Reported Partnering with PPG in Bid to Acquire Axalta
According to a report by Reuters, PPG Industries Inc. (NYSE:PPG) and the private equity firm Clayton, Dubilier & Rice LLC (CDR) are among groups considering acquiring Axalta Coating Systems Inc. (NYSE:AXTA). Also reported to be considering a bid for Axalta is a partnership between Platinum Equity LLC, and Koch Industries Inc. According to Reuters, the […]
Root Insurance Raises $350 Million in Latest Funding Round
Root Insurance announced it raised $350 million in Series E funding. Root has now raised a total of $523 million in funding, with an additional $100 million in debt financing. This latest round, led by DST Global and Coatue, raises Root’s valuation to $3.65 billion and provides additional capital to accelerate growth in existing markets […]
TSG Consumer Partners Acquires Joe Hudson’s Collision Centers
Private equity firm acquires 110 store collision repair chain. TSG Consumer Partners (TSG), a private equity firm focused exclusively on the branded consumer sector, today announced that it has signed an agreement to acquire a majority stake in Joe Hudson’s Collision Centers (JHCC) from Carousel Capital. Carousel Capital and JHCC management will continue as minority […]
Genstar Capital Acquires Majority Stake in OEConnection
OEConnection LLC (OEC) Providence Equity Partners L.L.C. and Genstar Capital, announced an agreement for Genstar to acquire a majority stake in OEC from funds advised by Providence. As part of the transaction, current investors Ford Motor Company and General Motors will each retain their minority investments in the Company. Financial terms of the transaction were […]
MPE Partners Invests in Garmat USA
Private equity firm MPE Partners announced today an investment in Garmat USA, LLC. Located in Englewood, Colo., Garmat USA designs and manufactures paint booths, finishing solutions, and related accessories for the collision repair and industrial end markets. Garmat, founded in 1988, serves collision repair shop customers through a nationwide network of distributor partners. Based in […]
Canadian Business Growth Fund Invests CDN$15 Million in BC-based Lift Auto Group
First Investment by fund will enable Kelowna-based collision repair shop operator to execute on acquisition strategy. The Canadian Business Growth Fund (CBGF) announced October 2 that it has invested CDN$15 million ($11.6 million) in the Lift Auto Group. The deal is CBGF’s first investment as part of its mandate to provide long-term, patient, minority capital […]
Stone Point Capital Acquires Stake in Mitchell International
KKR and Elliott sell stake in collision repair and insurance technology provider Mitchell International, Inc. KKR, and Elliott Management today announced that private equity firm Stone Point Capital LLC are making an investment in Mitchell and acquiring the equity position held by KKR and Elliott Management. Financial terms of the transaction were not disclosed. The […]
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 […]
Private Equity Firm Combines JN Phillips Auto Glass and TechnaGlass to Form TruRoad Holdings
CenterOak Partners LLC, a Dallas, Texas based private equity firm, announced the formation of TruRoad Holdings, Inc. through its investment in JN Phillips Auto Glass and subsequent combination with Techna Glass, Inc. According to the company together, the new firm is the second largest automotive glass and claims-management company in the United States. CenterOak’s investment […]