Boyd Group acquires Florida MSO
Nov. 16, 2012—The Boyd Group Income Fund has signed a definitive agreement to acquire The Recovery Room of Central Florida Inc. (TRR), an 11-shop collision repair operation based in Orlando, Fla.
The $7.3 million acquisition, which will doubles the Boyd Group’s total number of repair locations in Florida, is expected to close today.
"Currently, there is no other major multi-location collision operator in Florida, and we are the first to build significant presence in the state,” said Brock Bulbuck, president and CEO of the Boyd Group. “We believe Florida is an attractive market for our business and has many growth opportunities.”
The Boyd Group said TRR's business model provides for a fully integrated service offering, and its customer base consists largely of automobile insurers. Those similarities between the two organizations will allow for smooth integration of the businesses.
“We also believe that we can add to TRR's customer base by leveraging our existing relationships with other insurance companies,” Bulbuck said. “As the largest multi-location collision repair operator in North America in terms of annual sales and number of locations, the Boyd Group is committed to solidifying its industry leading position and continues to look for opportunities to grow its operations."
TRR’s 11 locations are expected to generate roughly $23 million of annual sales, the Boyd Group said.
The Boyd Group now operates a total of 205 collision repair locations throughout 14 U.S. states and four Canadian provinces.