ABRA Announces New Investors

    MINNEAPOLIS--Nov. 1, 2001--ABRA Auto Body & Glass, a national damaged vehicle repair company based in Minneapolis, announced today that William Blair Capital Partners VII and National City Equity Partners have made a $25 million investment in ABRA. The funds will be used to continue the nationwide expansion of ABRA, which is currently the largest consolidator in the collision repair industry.
    According to Rollie Benjamin, President and Chief Executive Officer of ABRA, "This infusion of capital represents the next step in our growth strategy. ABRA intends to be the volume and customer service leader in our target markets, and this financial transaction will allow us to gain market share while maintaining our exceptional customer satisfaction ratings."
    The investment will allow ABRA to expand its base of operations through newly developed repair centers and acquisitions. Privately held, ABRA Auto Body & Glass currently operates sixty-seven company-owned and franchised repair facilities in ten states.
    Gregg Newmark, Managing Director of William Blair Capital Partners VII, stated "We are impressed with the organization that ABRA has built, and know that going forward they will continue to lead the industry in innovation and quality. Our strategic alliance will not only allow growth for ABRA, but will enable the Company to accept a larger role in simplifying the claims process for their insurance partners and their policyholders."
    "Our firm's success can be attributed to our emphasis on integrity, combined with our outstanding staff of highly-trained collision repair specialists," stated Duane Rouse, Senior Vice President and Chief Financial Officer of ABRA. "We believe that we will prosper by providing the same outstanding performance standards that other industries provide."

    ABRA Auto Body & Glass is a national damaged vehicle repair company specializing in collision repair, paintless dent removal, and auto glass repair and replacement. Started with one repair center in 1984, they have grown to sixty-seven facilities in ten states.