Canadian-based Boyd Group Income Fund, parent company to Gerber Collision & Glass and Glass America, reported that the recent addition of new customers at Gerber National Claim Services (GNCS) boosted same-store sales by 1.4 percent to overall growth of 5.1 percent in the second quarter.
Same-store sales increased $10.9 million USD ($14.1 million CAD) over the same period of the previous year.
Overall sales for the company were $255.5 million USD ($331.0 million CAD) for the quarter, up $40.4 million USD ($52.3 million CAD), or 18.8 percent, when compared to 2015.
For the six-month period, GNCS bolstered same-store sales by 1.2 percent to 6.2 percent. Same-store sales were up $26.8 million USD ($34.7 million CAD).
Overall sales for the period were $526.0 million USD ($681.4 million CAD), up $93.3 million USD ($120.9 million CAD), or 21.6 percent, compared to 2015.
Management noted that the company acquired Ryan’s Auto Glass in Cincinnati, Ohio, on March 18, 2016. The company generated sales of $2 million for the trailing 12 months ending January 2016.
Going forward, acquisitions will include single-store companies, as well as multi-location companies, according to Boyd Group.
“Combined, this strategy is expected to double the size of the business and revenues (on a constant currency basis) over the next five years, implying an average annual growth rate of 15 percent,” according to a statement released by the company.