Haddock Collision Centers, a multi-shop operator with locations throughout the Raleigh, N.C., area, announced it has closed a $12.5 million senior and subordinated debt transaction for acquiring and opening new auto body repair locations in the Carolinas.
Plexus Capital led the investment with $9 million of subordinated debt with warrants and potential follow-on capital. Plexus is focused on middle market transactions and was the SBA 2013 Small Business Investment Company of the Year.
"This investment will allow us to double our locations and expand into additional southern markets," said Todd McGowan, Haddock Collision CEO.
Haddock Collision Centers, founded in 1972, maintains multiple OEM collision repair certifications including Acura, Audi, Honda, Infiniti, Mercedes-Benz, Nissan, VW and Volvo.
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