From BodyShop Business
The private-equity firms that own Service King Collision Repair Centers are exploring a sale of the company, Bloomberg reported.
Blackstone Group and Carlyle Group “have discussions with bankers about starting a sale process this year,” sources told Bloomberg’s Kiel Porter. The sale price could be upward of $2 billion, according to the Bloomberg article.
Blackstone Group bought a majority stake in Service King in 2014. Carlyle Group – which bought a controlling interest in Service King in 2012 – retained a minority stake.
Under private equity ownership, Richardson, Texas-based Service King has expanded aggressively into new markets. When Carlyle bought a majority share of Service King in 2012, Service King had 47 locations in Texas. Today, Service King says it has 309 repair centers in 23 states.