Caliber Collision and ABRA Auto Body Repair of America have announced a definitive merger agreement that brings together the two companies’ teams, brands and operations. The deal is said to better position the business to make investments that benefit customers and teammates, which include enhanced technologies, an unbeatable customer experience and expanded best operational practices.
“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 CEO. “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 and a full suite of services. We’re confident the technological and operational investments will create unparalleled customer service, enhanced repair quality and industry-leading metrics, all of which advance our purpose of restoring the rhythm of our customers’ lives.”
Grimshaw said the merged business will maintain all existing centers from both companies, “as we develop and execute a plan to work smarter, generate growth, offer expanded services, drive operational excellence and reward talent across the organization.” All employees will be retained at both Caliber and ABRA centers, he noted.
“Our industry becomes more complex every year,” said ABRA CEO Ann Fandozzi. “The combined company will invest in the equipment, training and technologies that will allow our teammates to build their careers while continuing to meet and exceed our customers’ needs for years to come. ABRA’s leadership team is excited by the opportunities this combination with Caliber creates for customers, insurance clients and teammates. We look forward to seeing our traditions of stellar customer service, unparalleled operational excellence and team development taken to the next level across the United States.”
The transaction is expected to close in early 2019. 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.
Both Caliber and ABRA say they are committed to a smooth and thorough integration process, with plans underway to bring together the key elements of success and best practices from both organizations.
Caliber CEO Steve Grimshaw will lead the combined company.