Service King Collision Repair Centers (Service King), a multi-state operator of high-quality collision repair facilities and one of the fastest growing collision repair companies nationwide, has acquired Marco’s Collision Centers, a multi-shop operator in California.
Founded by Marco Maimone in 1972, Marco’s Collision Centers established a reputation for superior customer service among its California consumers. The company has since expanded to seven locations across the state capable of servicing more than 800 vehicles per month under the guidance of current CEO Lillian Maimone.
“Service King chose us because of our people and strong infrastructure,” said Lillian Maimone. “I chose them because of who they are: a company of integrity that cares about their employees. I’m proud that my employees are in a safe home with people that care and can afford them opportunities I could never have given them.”
With the acquisition, Service King will now operate 12 locations in California with future growth planned for later this year.
“The acquisition of these seven Southern California locations supports our strategic growth plan to expand our footprint in underserved markets,” said Chris Abraham, Service King CEO. “The Marco’s Collision Centers’ team has a long history of delivering impressive results, and we are proud to welcome them to the Service King family.”
Rooted in parallel values, Service King’s acquisition of Marco’s furthers the company’s initiative to provide the California market with consistent and superior collision repair service.
"Over the past 40 years Marco’s Collision Centers has built its reputation by offering consumers high quality repairs with exceptional service,” said Alan Saviano, Service King Director of Operations in California. “We look forward to continuing that reputation and being a part of the communities they serve.”
David Roberts, managing director with FOCUS Investment Banking, said the acquisition is one of many they expect to see from Service King in the California market. "For years, Caliber has had the California sandbox all to themselves. Now Service King has declared its intention to play in the largest US market in a big way. With their existing five shops plus Marco's, Service King is now a top player in the California market. With one or two more deals, they will rank No. 3 in the state after Caliber and Cooks," he said.
"Compared with Caliber's 88 shops with an estimated $350+ million in revenue, and Cooks Collision with an estimated $125 million in their 36 stores, Service King's 12 shops with an estimated $40 million in revenue are currently well back in the pack," Roberts said. "We don't expect that to last for long. With the capital pools available to the top four consolidators, we can speculate there will be more transactions in California that significantly increase consoldiator penetration in the state. Given the state's nearly $4 billion in repair volume, we would expect some activity from Gerber and ABRA as well. it is doubtful that they will continue to ignore the biggest market in the US."
For additional information on this acquisition and other Service King locations, visit www.serviceking.com.
About Service King Collision Repair Centers Service King is one of the nation’s largest operators of collision repair facilities, dedicated to offering customers an overall superior service experience. Founded more than 38 years ago in Dallas, Texas; Service King is a leader in the collision repair industry, currently serving customers at 185 locations in 20 states. For more information about Service King, visit www.ServiceKing.com. Follow Service King's news on Facebook and Twitter.
