Service King closes Auto Body World acquisition
Oct. 1, 2012—Service King Collision Repair Centers has closed on its acquisition of Auto Body World Inc., an Arizona-based operator of eight repair facilities.
Terms of the agreement were not disclosed.
With the acquisition, Service King said it is now the third largest collision repair organization in North America. The company now operates eight Auto Body World locations in Arizona and 51 Service King locations throughout Texas.
“Service King is committed to continuing Auto Body World's long tradition of excellent customer service and quality repairs with good relationships in the insurance industry,” said Chris Abraham, CEO of Service King. “We are honored to add Auto Body World's talented teammates and skilled technicians to our base of over 1,400 Service King teammates throughout Texas.”
"We are very excited about Auto Body World joining the Service King Team," said Mark Turner, president of Auto Body World. "Both companies believe that we’re a great match for each other in that we share very common cultures. While Service King brings national insurance relationships and financial strength, Auto Body World brings dominance in a new market, with a strong operations team and platform for rapid growth."
Global alternative asset manager The Carlyle Group recently purchased majority ownership of Service King to help the company initiate a national expansion effort. Auto Body World is Service King’s first acquisition outside of Texas.
"We welcome our new teammates in Arizona to the Service King family. We're excited about the opportunity here. Arizona is special because it's our first venture outside of Texas, but it's not our last,” Abraham said.