Canadian automotive collision repair services provider Boyd Group Income Fund said it agreed to acquire U.S.-based True2Form Collision Repair Centers Inc. for about $18 million, Reuters reports.

"The acquisition... allows us to enhance our presence in the eastern United States with an additional 37 locations in states and markets that we do not currently operate in," Boyd CEO Brock Bulbuck said in a statement.

The transaction, which is expected to be completed by Aug. 1, will be funded with a combination of cash, U.S. bank debt, third-party financing and a vendor take-back note, a Boyd press release stated.