Acquisition Announcement Generates Industry Reactions

Yesterday Safelite announced its acquisition of TruRoad and its combined businesses, and since then various news outlets and social media sites have responded to the news, creating a bit of a buzz both nationally and internationally in the auto glass repair and replacement (AGRR) industry.

Industry professionals also took to social media to voice their concerns about the purchase, most of which were displeased with the company’s decision to sell to Safelite. Several cited the government and are seeking answers to how something like this can legally happen. Below are two comments from glassBYTEs.com’s article.

“When is the gov’t going to call a monopoly a monopoly,” said Mary Lundgren.

“Rarely does the Government do anything for the people unless they are forced to,” said Kerry Wanstrath.

At press time, one dozen articles were published about the acquisition, not including the comments that were mentioned on AGRR forums and social media. Some of the articles surrounding Safelite’s latest purchase include:

Stockhouse included a few statements from the managing partner of CenterOak Partners LLC (CenterOak) in one of its articles. CenterOak helped to form TruRoad in March 2018.

“We are proud to have partnered with Bob Rosenfield and the TruRoad team in forming a leading platform in the highly fragmented auto glass replacement and repair market,” said Randall Fojtasek, CenterOak managing partner. “The company has grown organically and through acquisitions while investing in new technology, key talent and support, training and recruiting technicians, and undergoing a large-scale integration effort. The management team’s talent and execution allowed the company to capitalize on these growth opportunities while maintaining their commitment to a differentiated customer service experience.”

Stockhouse also included a statement from TruRoad’s most recent CEO.

“We are extremely pleased to have created and grown our organization and established great consumer relevance with simple, uncomplicated resolution to complex vehicle glass and ADAS repair needs. Our partnership with the CenterOak team has truly helped us to increase our capabilities much faster and smarter than we otherwise would have been able to accomplish,” said Robert Rosenfield, CEO of TruRoad. “TruRoad and CenterOak shared a vision to capitalize on the fragmented nature of the auto glass replacement and repair market through a buy-and-build strategy. Over the course of the partnership we invested in technology, consolidated supply chain and purchasing power, implemented a single IT platform, and harmonized best operational practices, which all created value at an accelerated pace.”

This article is from glassBYTEs™, the free e-newsletter that covers the latest auto glass industry news. Click HERE to sign up—there is no charge. Interested in a deeper dive? Free subscriptions to Auto Glass Repair and Replacement (AGRR) magazine in print or digital format are available. Subscribe at no charge HERE.

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