Dent Wizard to continue to operate independently under leadership of CEO Mike Black. Dealer Tire, LLC, the replacement tire distribution company for automotive dealerships, announced it will acquire Dent Wizard, the provider of automotive reconditioning services and vehicle protection products. The combination of the two companies will create a leading aftersales dealer services platform in […]
Private Equity Firm Makes Offer to Acquire Opus Group
Group including CEO seeks to acquire all outstanding shares of global vehicle diagnostic and inspection firm. Searchlight Capital Partners together with Lothar Geilen, the chief executive officer of Opus Group AB (STO:OPUS) announced a public offer to the shareholders of Opus Group AB to acquire all outstanding shares in the Sweden-based vehicle diagnostic and inspection […]
Nationwide Invests in Connected Vehicle Cybersecurity Firm
Nationwide’s venture capital team has invested in Upstream Security, a provider of cybersecurity for connected vehicles. The investment is designed to help the Israel-based company enable OEM car manufacturers and fleets to detect, monitor and respond to attacks, targeting any part of the connected vehicle framework – even for vehicles already on the road. As […]
Genstar Capital Completes Acquisition of OEConnection
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 […]