The Boyd Group Income Fund, parent company to Glass America, Gerber Collision and Glass, has finalized the acquisition of Assured Automotive Inc., Canada’s largest non-franchise collision repair company. The total transaction was approximately $143.7 million USD ($193.6 million CAD).
With the completion of the acquisition, the Boyd Group has added 68 collision repair centers in the Ontario province, where it previously only had one. In turn, this makes the company Canada’s largest non-franchised provider of collision repair services, according to the press release.
“The addition of Assured significantly increases our number of collision repair centers, and also provides us with an enhanced platform for growth,” said Brock Bulbuck, CEO of the Boyd Group in a statement. “We now have the leading position in the largest collision repair market in Canada, with further consolidation opportunities and experienced senior management with deep knowledge of the region. This, combined with our track record of new location growth, better positions us to meet our goal of doubling the size of the company by 2020, based on 2015 metrics.”
Following the closing of the acquisition, the Boyd Group now owns 110 locations in Canada and 476 locations throughout North America.