WINNIPEG, CANADA - Boyd Group Income Fund continued its major expansion in the U.S. collision repair industry this week by announcing plans to acquire Cars Collision Center of Colorado and Cars Collision Center for $21 million. Together, the Cars Collision Center companies have 28 body shops in Illinois, Indiana and Colorado.
The deal is expected to close July 1.
"We are very pleased with the planned acquisition of Cars, as we continue to execute on our stated strategy of growing our business," said Brock Bulbuck, president and CEO of the Boyd Group. "By our estimates, the acquisition will position Boyd as the largest multi-location collision operator in North America not only in terms of number of locations, but also in terms of annual sales."
After completing this transaction, Canada-based Boyd Group will have a total of 164 collision repair centers across 13 U.S. states and four Canadian provinces. Last summer, the Boyd Group acquired 37 True2Form Collision Repair Center locations for $18 million.