North Carolina MSO Secures Investment to Acquire New Locations
Nov. 11, 2013—Haddock Collision Centers, a North Carolina MSO, announced Thursday plans to acquire new auto body repair locations in the Carolinas after securing a $12.5 million investment.
Plexus Capital contributed $9 million of the subordinated debt with warrants and potential follow on capital. Plexus, which primarily focuses on middle-market transactions, was the SBA 2013 Small Business Investment Company of the year.
“This investment will allow us to double our locations and expand into additional Southern markets,” said Todd McGowan, Haddock Collision CEO.
Haddock, founded in 1972, maintains multiple OEM collision repair certifications including Acura, Audi, Honda, Infiniti, Mercedes Benz, Nissan, VW and Volvo.