ABRA Auto Body & Glass Acquires All 23 Kadel’s Auto Body Locations
MINNEAPOLIS - July 10, 2015 - (BUSINESS WIRE) - ABRA Auto Body & Glass, a leading national damaged vehicle repair company, closed today on the agreement announced last month to acquire all 23 Kadel’s Auto Body locations in Idaho, Oregon and Washington. Terms of the acquisition were not disclosed. Nomura arranged financing for the transaction. Harris Williams & Co. served as the exclusive financial advisor to Kadel’s.
ABRA is one of the country’s largest and most-respected multi shop repair operators in collision repair, paintless dent removal, and auto glass repair and replacement. The company uses an operational excellence philosophy that significantly improves its operating metrics, distinguishing it from competitors and making it a preferred option for insurance carriers and vehicle owners. ABRA credits its continued growth and acquisition opportunities to the dedication of its employees and outstanding support from insurance partners. Its national portfolio now includes 310 repair centers in 23 states.
President and Chief Executive Officer of ABRA, Duane Rouse described today’s move as significant. “Over the past several years we have worked tirelessly to increase our national footprint and are all very proud of how far we’ve come. Growing to 310 repair centers is no easy feat and reaching this milestone through the acquisition of such a well-respected operator as Kadel’s makes today especially rewarding. We look forward to expanding the already extensive footprint and strong insurance partnerships that Kadel’s has established in the region.”
Don Braden, former President and CEO of Kadel’s Auto Body echoed Rouse’s sentiments and said the company is honored to be a part of ABRA’s growth. “Our employees, our leadership, all of us at Kadel’s look forward to the great things to come as a result of our alignment with ABRA. The common vision that we share will allow us to continue the legacy that we’ve established while introducing the innovative service model that has made ABRA well known throughout the collision repair industry.”
Kadel’s Auto Body, an investment managed by KCB Private Equity of Pasadena, CA since 2007, 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.
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 (email@example.com or 763.585.6210).
For franchise opportunities in small and midsize markets contact Mark Wahlin, Vice President of Franchise Development/Relations (firstname.lastname@example.org 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.
About ABRA Auto Body & Glass
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
About Hellman & Friedman, LLC
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.
About Kadel’s Auto Body
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.
About KCB Private Equity
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.
SOURCE ABRA Auto Body & Glass
ABRA Auto Body & Glass
Director of National Marketing
Joe Hixson or Ian Campbell
Hellman & Friedman
The Abernathy MacGregor Group
KCB Private Equity