The Boyd Group has announced that it has closed the acquisition of Dora Holdings Inc., which owns and operates 25 collision repair centers in Illinois, Indiana and Florida under the Collision Revision name. Fifteen of those locations are in the Chicago market.
With the addition of the new Collision Revision locations, Boyd now operates 288 collision repair facilities across 15 states and five Canadian provinces.
"We are very pleased to announce another multi-shop acquisition to further our geographic footprint," said Brock Bulbuck, president and CEO of the Boyd Group. "In addition to being immediately accretive to earnings, adding the Collision Revision locations gives Boyd a commanding presence in the greater Chicagoland market. This is our seventh major multi-shop acquisition since 2010 and reinforces our position as the largest multi-shop operator in North America, in terms of number of locations. This has strategic value for Boyd relative to trends within the collision repair industry that have seen insurance companies consolidating direct repair program volumes with fewer providers."
Collision Revision generated roughy $50 million in sales in 2013. The total purchase price of the collision facilities was approximately $32.5 million.
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