NEW YORK Private investment firm Palladium Equity Partners announced it has completed the sale of ABRA Auto Body & Glass to affiliates of Hellman & Friedman LLC, along with ABRA’s senior management team.
ABRA is a recognized leader in collision repair, paintless dent removal and auto glass repair and replacement. Following Palladium’s investment in October 2011, ABRA expanded its repair center footprint from 110 centers in 12 states to 240 centers in 19 states and significantly grew revenue and EBITDA. During this three-year period, the number of ABRA employees more than doubled from approximately 1,455 to 3,300. The investment generated a 6.7 times cash on cash return for Palladium.
"We are very proud of what we have accomplished in partnership with ABRA’s exceptional management team," said Luis Zaldivar, a managing director of Palladium. "By delivering excellent outcomes for consumers and insurers, the company has solidified its position as an industry leader. We are thrilled to have completed the sale with such a positive outcome for the company, the management team and our investors."
Duane Rouse, ABRA’s president and CEO, added, "Palladium has been an exceptional partner to ABRA and we thank them for all of their support. We are extremely pleased to have worked with Palladium, a firm with many years of experience helping companies grow. This partnership helped ABRA accelerate our national expansion plan and achieve an outstanding record of success in the past three years."