Caliber, ABRA Merger Officially Closes
Feb. 5, 2019—Caliber Collision Centers and Abra Auto Body Repair of America today announced the closing of their merger.
The combination joins two leaders in the $47-billion-per-year collision repair industry. Going forward, the combined company will be investing even more in enhanced technologies, specialized resources and innovative processes, officials noted in a press release.
Steve Grimshaw, Caliber's chief executive officer, who now serves as CEO of the new combined company, says they plan on maintaining all existing centers from both companies.
The new combined company, now operating under the Caliber brand name, will provide customers and clients with the first national lifetime warranty along with other offerings, including dedicated non-drive facilities, express repair centers and aluminum-certified and high-line centers. The combined company will also offer glass repair, diagnostic scanning and calibration services.
.Terms of the transaction were not disclosed. Private equity firm Hellman & Friedman–ABRA’s majority shareholder since 2014–will become the majority shareholder of the combined company. Caliber’s two largest shareholders, OMERS and Leonard Green & Partners, L.P. (LGP), will be minority shareholders in the combined company.