Boyd Group Acquires Another Florida MSO
Nov. 30, 2012—The Boyd Group Income Fund has entered into a definitive agreement to acquire Ellis Hopkins Inc., Timron Holdings Inc. and S&L Autoglass Inc.
Those three organizations together—known as Autocrafters—operate 14 collision and glass repair centers in northern Florida under the trade names Autocrafters Collision Repair, Walker Collision Repair and S&L Auto Glass. Autocrafters serves the Florida markets of Jacksonville, Gainesville and Tallahassee, and generated sales of $32.6 million in 2011.
The $19.5 million transaction, which is the Boyd Group’s fourth multi-location acquisition this year and its third in Florida, is expected to be completed today. The Boyd Group now operates 37 locations in Florida.
"We are very pleased to announce another multi-location collision repair operator acquisition," said Brock Bulbuck, president and CEO of the Boyd Group. "At the end of last year, we had no presence in Florida. These acquisitions build a strong presence in Florida, a market we consider attractive, and provides us with additional growth opportunities. Autocrafters has a similar customer base and business model to Boyd's, which should facilitate integration.”