Caliber Collision Centers Acquires Keystone Body Shops in the Dallas/Fort Worth Metroplex

    IRVINE, Calif.--Feb. 27, 2001--Caliber Collision Centers, an Irvine-based operator of high-quality collision repair facilities in California and Texas, has acquired Keystone Body Shops, with one location in Richland Hills and a second location in North Richland Hills.
    The addition of Keystone Body Shops positions Caliber as one of the largest collision repair providers in North Texas, with 11 centers throughout the Dallas/Fort Worth Metroplex. It also further extends Caliber's position as the largest independently operated collision repair organization in the United States with annual revenues exceeding $170 million.
    According to Matthew Ohrnstein, chief executive officer of Caliber Collision Centers, the acquisition continues to solidify Caliber's presence in Texas, particularly in the Northern Texas market. "Caliber has focused its acquisition growth strategy toward meeting the collision repair needs of our insurance partners and their insureds," said Ohrnstein.
    "By acquiring Keystone Body Shops, we are adding two more first-rate centers with 50 top-notch employees that will substantially strengthen our presence in Texas, the second largest auto market in the United States."
    The former owner of Keystone Body Shops, Glen Carlen, will be retiring, but his son Don will stay on as the center manager of the North Richland Hills location. "We are delighted to join Caliber's growing team," stated Carlen. "Having considered other offers, we believed Caliber's to be the fairest for our shareholders and the best for our employees."
    Founded in 1991, with headquarters in Irvine, Caliber Collision Centers operates high-quality collision repair facilities in California and Texas. Caliber currently owns and operates 54 facilities and plans to continue acquiring, developing and integrating high-volume collision repair centers while providing innovative collision repair solutions and automobile physical damage claims support.