MINNEAPOLIS - June 26, 2015 - (BUSINESS WIRE) - ABRA Auto Body & Glass, a leading national damaged vehicle repair company, and its principal owner Hellman & Friedman, LLC, is pleased to announce today a definitive agreement to acquire 23 Kadel’s Auto Body locations in Idaho, Oregon and Washington. Details of the agreement were not disclosed.
Today’s announcement is a strategic move underscoring ABRA’s ongoing and aggressive growth plan across the nation. The company carefully considers the fit and the culture of each acquisition and Kadel’s is no exception.
Kadel’s Auto Body, an investment managed by KCB Private Equity of Pasadena, CA, is a leading regional auto body provider in the Pacific Northwest. The company’s geographic footprint and insurance company relationships have enabled it to provide consistent service, excellent quality, quick turnaround times and real convenience for customers. These fundamentals align closely with ABRA’s business model, making this strategic move a great fit for both companies.
The transaction will significantly expand ABRA’s footprint in the region. ABRA’s President and Chief Executive Officer, Duane Rouse says the company is thrilled with the opportunity and proud to acquire such a well-respected multi-shop collision repair operator. “Kadel’s Auto Body has been servicing insurance partners and community members for over 60 years. Their commitment to superior customer service and a quality repair echoes ABRA’s way of doing business. As we enter these new markets we look forward to continuing Kadel’s legacy within the community while introducing ABRA’s innovative service model.”
Don Braden, President and CEO of Kadel’s Auto Body embraces the acquisition decision with ABRA and says KCB’s partnership over the years and their operational experience helped maintain the quality and services customers and insurance partners expect. “This is a great cultural fit and a tremendous opportunity for our employees,” he added. “We’re pleased to align ourselves with such an established, well-respected national collision repair company like ABRA that shares the same culture of ethics, integrity, and teamwork.”
ABRA credits its continued growth and acquisition opportunities to the dedication of its employees and outstanding support from insurance partners. The company is known throughout the collision repair industry for its exceptional cycle times and high customer satisfaction ratings.
As it plans to continue expanding in the months and years ahead, ABRA is actively seeking new opportunities to acquire repair centers and integrate them into its industry-leading operating system. Interested parties in major markets should contact Scott Gerling, Vice President of Corporate Development (firstname.lastname@example.org or 763.585.6210).
For franchise opportunities in small and midsize markets contact Mark Wahlin, Vice President of Franchise Development/Relations (email@example.com or 763.585.6315).
ABRA is committed to conducting business based on responsible business practices including implementation of environmentally sustainable initiatives, health and safety, and a commitment to the communities in which it serves.
The transaction is expected to close within the coming weeks. Harris Williams & Co. served as the exclusive financial advisor to Kadel’s. KCB Private Equity invested in Kadel’s in 2007. The transaction is subject to customary closing conditions and the sale terms are undisclosed.
Founded in 1984 and headquartered in Brooklyn Park, Minnesota, ABRA is a leading provider of vehicle repair services specializing in collision repair, paintless dent removal, and auto glass repair and replacement. ABRA’s mission is to be the best auto body and glass company in America by providing quality repairs, in a timely manner, with friendly, helpful service. For more information about ABRA visit www.abraauto.com
Hellman & Friedman LLC is a leading private equity investment firm with offices in San Francisco, New York, and London. Since its founding in 1984, H&F has raised and, through its affiliated funds, managed over $25 billion of committed capital. The firm focuses on investing in superior business franchises and serving as a value-added partner to management in select industries including insurance, energy & industrials, financial services, software, internet, digital & traditional media, business, marketing & information services, and healthcare. For more information on H&F, please visit www.hf.com.
Founded in 1954, the company remained family-owned until it was sold in 1997. In 2007, a group of dedicated employees and a private equity firm purchased majority ownership in the business. The current management team has been together for over 15 years and has grown the company through several acquisitions during that time. For more information about Kadel’s visit www.kadels.com.
KCB Private Equity, founded in 1986, is a long-term, control investor in small to medium sized businesses. KCB invests in companies with sustainable competitive advantages, historically stable-to-growing revenues ($10-$60 million) and EBITDA ($1-$6 million), and unique products and services. KCB’s investment perspective, long-term hold strategy, extensive operating experience and the significant investment commitment of its principals differentiate it from traditional private equity firms. KCB offer sellers significant liquidity today while providing long-term continuity to their businesses. This philosophy allows KCB to build strong relationships with management and nurture solid, growing portfolio companies without the pressures of a short exit timeframe.
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KCB Private Equity
Founded in 1984 and headquartered in Brooklyn Park, Minnesota, ABRA is a leading provider of vehicle repair services specializing in collision repair, paintless dent removal, and auto glass repair and replacement.