Boyd Group Completes Acquisition of True2Form
August 10, 2010
The Boyd Group has completed its acquisition of True2Form Collision Repair Centers Inc. The transaction was valued at approximately $18 million, according to the company, subject to normal post-closing adjustments, and it was funded with a combination of cash, U.S. bank debt, third-party financing and a vendor take-back note.
"We are very pleased to have completed the acquisition of True2Form," says Brock Bulbuck, president and chief executive officer of the Boyd Group. "The acquisition is a major strategic move for us in expanding our footprint and continuing our growth plan. We believe that True2Form's strong management team and industry-leading operational expertise and service levels are an excellent fit with Boyd Group's existing organization and will further enhance Boyd's competitive position in the United States."
The True2Form acquisition adds 37 new locations in four U.S. states where the Boyd Group previously had no operations, according to the company.
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