The Boyd Group recently announced that it increased sales
in its fiscal year 2010 by 14.8 percent to $256.8 million from $223.7 million
in 2009, impacted by five months of sales contribution from True2Form Collision
Repair Centers, Inc., acquired at the end of July.
"We are very pleased to report record sales, net
earnings, adjusted EBITDA and distributable cash for the year," said Brock
Bulbuck, president and chief executive officer of the Boyd Group. "Market conditions
improved significantly as the year progressed, especially during the fourth
quarter, which was very favorable. In particular, the Fund benefited from a
significant and unusual hail storm in the Arizona market, which alone added
between $1.1 million and $1.3 million of EBITDA to our fourth quarter
results."
"In addition, we continued to make progress in
integrating True2Form. As a result of this acquisition, we are now the largest
multi-site operator of automotive collision repair service centers in North
America by number of locations, currently with 134 locations. We believe we are
well positioned to capitalize on our size as the collision repair industry
continues to consolidate repair volume with a fewer number of large collision
repair companies."
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