ABRA Auto Body & Glass and its principal owner, Palladium Equity Partners LLC, have closed the deal for ABRA to be acquired by affiliates of Hellman & Friedman LLC and the senior management team. Terms of the transaction were not disclosed.
ABRA’s nationwide network includes 191 company-owned vehicle damage repair centers and 49 franchised centers in 19 states.
“Growth has always been part of our key strategy,” says Duane Rouse, president and CEO of ABRA Auto Body & Glass. “Hellman & Friedman aligns well with ABRA’s vision for the future and their sophisticated knowledge of the insurance and automotive service industry will play an important role in helping us evolve to the next stage. Our entire team is excited about the long-term growth opportunities ahead as we broaden our reach and expand our national footprint.”
Hellman & Friedman LLC is a private equity investment firm with offices in San Francisco, New York and London. Since its founding in 1984, H&F has raised and, through its affiliated funds, managed more than $25 billion of committed capital. The firm focuses on investing in business franchises and serving as a value-added partner to management in select industries including insurance, energy and industrials, financial services, software, Internet, digital and traditional media, business, marketing and information services, as well as health care.