LEWISVILLE, TX and BROOKLYN PARK, MN, Dec. 5, 2018 – Caliber Collision (“Caliber”) and Abra Auto Body Repair of America (“Abra”) today announced a definitive merger agreement that brings together the companies’ talented teams, trusted brands and industry-leading operations to better serve their customers and insurance clients with the highest-quality repairs and a seamless customer experience. The combination joins two complementary leaders in the $47-billion-a-year collision repair industry.
“This combination will allow us to offer even greater satisfaction for our valued customers and insurance clients while creating new opportunities for the talented teammates of both companies,” said Steve Grimshaw, Caliber Chief Executive Officer. “With more than 1,000 stores in 37 states and the District of Columbia, we look forward to providing customers and insurance clients with the flexibility and convenience that come with the broadest geographic coverage in the United States.
Terms of the transaction were not disclosed. As part of this transaction, private equity firm Hellman & Freidman LLC – Abra’s majority shareholder since 2014 – will become the majority shareholder of the combined company. Both OMERS and Leonard Green & Partners, L.P. (LGP) will remain significant minority shareholders in the combined company. OMERS currently owns a majority stake in Caliber and LGP owns a minority stake.
Caliber is the largest collision repair company in America with 600+ I-CAR Gold Class Professional certified collision repair centers.
The transaction is expected to close in early 2019.
