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ABRA Closes Acquisition

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Aug. 29, 2014—ABRA Auto Body & Glass and its principal owner, Palladium Equity Partners, closed on an acquisition by affiliates of Hellman & Friedman and ABRA’s senior management team, the company announced Thursday.

Harris Williams & Co., a middle market investment bank, was the lead advisor on the transaction.  

FenderBender reported in May that the company was up for sale and then earlier this month, ABRA announced that plans were in motion for the sale to Hellman & Friedman. At that time it was anticipated that the sale could bring in more than $500 million.

In July, Palladium recapitalized ABRA, which allowed the equity firm to return $24 million in capital to investors in the company. The returned capital represented 44 percent of the firm’s invested capital, according to a press release.

Since Palladium’s purchase in October 2011, ABRA has seen about a dozen add-on acquisitions. Today, it has 191 company-owned shops and 49 franchised locations across 19 states.

“Growth has always been part of our key strategy,” said Duane Rouse, president and chief executive officer of ABRA Auto Body & Glass. “Hellman & Friedman aligns well with ABRA’s vision for the future and their sophisticated knowledge of the insurance and automotive service industry will play an important role in helping us evolve to the next stage. Our entire team is excited about the long-term growth opportunities ahead as we broaden our reach and expand our national footprint.”

Hellman & Friedman focuses on investing in business franchises in select industries including insurance, energy and industrials, financial services, software, internet, digital and traditional media, business, marketing and information services, and healthcare.

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