April 15, 2014—The Boyd Group announced on Monday that it has acquired Illinois-based Collision Revision, a 25-facility operation previously owned by Dora Holdings LLC.
Fifteen of Collision Revision’s locations are in the Chicago market. In total, its 25 facilities in Illinois, Indiana and Florida generated roughly $50 million in sales in 2013.
The total purchase price was approximately $32.5 million, and with the deal officially closing on Monday, the acquisition is immediately accretive to the Boyd Group’s earnings and cash flow.
"We are very pleased to announce another multi-shop acquisition to further our geographic footprint," said Brock Bulbuck, president and CEO of the Boyd Group. "In addition to being immediately accretive to earnings, adding the Collision Revision locations gives Boyd a commanding presence in the greater Chicagoland market. This is our seventh major multi-shop acquisition since 2010 and reinforces our position as the largest multi-shop operator in North America, in terms of number of locations. This has strategic value for Boyd relative to trends within the collision repair industry that have seen insurance companies consolidating direct repair program volumes with fewer providers."
The Boyd Group now operates 288 locations in 15 states and five Canadian provinces.
