Caliber Collision Centers Acquires Body Shops of America in Fort Worth
4 June 1999
Caliber Collision Centers Acquires Body Shops of America in Fort Worth
IRVINE, Calif.--(AutomotiveWire)--June 3, 1999--Million, Irvine-based Caliber Continues Aggressive Growth
Strategy in Largest U.S. Auto Markets
Caliber Collision Centers, an Irvine-based operator of high-quality collision repair facilities in California and Texas has acquired Body Shops of America in Fort Worth, Texas.
The acquisition is expected to increase the company's projected annual revenues to more than $75 million and will significantly increase market penetration and production capacity in Texas. The total number of Caliber-owned and operated centers now stands at 23, with 11 in Texas and 12 in California -- the two largest car markets in the country.
"The acquisition of Body Shops of America will enable Caliber to continue to drive change in the collision repair industry through a growth strategy built on acquisitions of high-quality, well-managed facilities combined with a number of `greenfield' locations under construction in key markets," said Matthew Ohrnstein, chief executive officer of Caliber Collision Centers. "The acquisition of this highly reputable facility also illustrates Caliber's commitment to increasing market coverage throughout Texas and to becoming the largest operator of high-quality, high-volume collision repair facilities in the state."
Established in 1996, the 50,000 square-foot Body Shops of America generates more than $4 million in annual revenues and is utilized by all major insurance companies.
"By acquiring a facility of such significant size, Caliber can focus on reducing repair cycle times in the collision repair process, which is critical to our insurance partners, which continually seek new ways to streamline and enhance the repair process for their customers -- the vehicle owners," said Bill Lawrence, chief operating officer of Caliber Collision Centers. "Additionally, the new facility is ideally located in West Fort Worth allowing us to expand significantly our service coverage throughout the Metroplex area."
About Caliber Collision Centers
Founded in 1991 and with headquarters in Irvine, Caliber Collision Centers, is an operator of high-quality collision repair facilities in California and Texas. Caliber currently owns and operates 24 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.