Boyd Group Income Fund announced on Dec. 3, 2012, that it completed the acquisition of Autocrafters Collision Repair, Walker Collision Repair, and S&L Auto Glass (collectively "Autocrafters"), for approximately US$19.5 million. It was funded with a combination of cash, bank debt, convertible debt and third-party financing.
Like this article? Sign up to receive our weekly news blasts here."We are very pleased to complete the acquisition of Autocrafters, further expanding our presence in the Florida market," said Brock Bulbuck, President and Chief Executive Officer of the Boyd Group.
"Autocrafters represents our third multi-location collision operator acquisition in Florida since we first entered the market with the acquisition of Master Collision Repair in January 2012. We have built a strong presence in Florida where, upon completion of the Autocrafters acquisition, we will have 37 locations. With strong similarities in their business model, we believe Autocrafters will be a good fit with our existing operations and a strong complement to our position in the market."
With the Autocrafters acquisition, Boyd Group Income Fund adds 14 new locations to its North American footprint, bringing the total number of locations to 220 across 14 U.S. states and four Canadian provinces.
The Boyd Group Inc. operates locations in the four Western Canadian provinces under the trade name Boyd Autobody & Glass, as well as in 14 U.S. states under the trade names Gerber Collision & Glass , Pearl Auto Body, The Recovery Room and Autocrafters.
The company also operates Gerber National Glass Services, an auto glass repair and replacement referral business with approximately 3,000 affiliated service providers throughout the United States.
For more information on The Boyd Group Inc. or Boyd Group Income Fund, visit www.boydgroup.com.
