Caliber Collision and Abra Auto Body Repair of America (Abra) announced both have agreed to a merger and will combine companies. An official announcement was made today, and the transaction is set to close in early 2019. The combined company aims to make investments together that not only benefit its customers and teammates, but to also enhance technologies, customer experiences and expand on best operational practices.
“With more than 1,000 stores in 37 states and the District of Columbia, we look forward to providing customers and insurance clients with the flexibility and convenience that come with the broadest geographic coverage in the United States. We’re confident the technological and operational investments will create unparalleled customer service, enhanced repair quality and industry-leading metrics,” Steve Grimshaw, Caliber Collision CEO said.
The combined company plans to keep all existing centers from both companies as it works to create a single option for its customers. It will also keep all of the “teammates in the field” at both Caliber Collision and Abra centers, according to Grimshaw. The company also plans to continue serving Abra’s 59 franchisees.
Strategies for the combined company to create opportunities for its employees to grow as the new company grows are also in the works.
“The combined company will invest in the equipment, training and technologies that will allow our teammates to build their careers while continuing to meet and exceed our customers’ needs for years to come. Abra’s leadership team is excited by the opportunities this combination creates for customers, insurance clients and teammates,” Ann Fandozzi, Abra CEO, said.
Grimshaw has been chosen to lead the company and customers should not see any disruption in their service from either company as both transition into one.
The terms of the transaction were not disclosed. According to the company, as part of its transaction, private equity firm Hellman & Freidman LLC – Abra’s majority shareholder since 2014 – will become the majority shareholder of the combined company.
“Through this merger, we are creating a player in collision repair with proven acquisition integration capabilities, strong relationships with top-tier insurance clients, industry-leading performance metrics and a promising platform for future growth,” Erik Ragatz, Hellman & Friedman partner, said.