Caliber Collision Centers and Abra Auto Body Repair of America have announced the closing of their merger that unites the companies’ teams, brands and operations across the U.S.
Going forward, Caliber states that “the combined company will be investing even more in enhanced technologies, specialized resources and innovative processes to redefine world-class standards for quality repairs and customer service in the industry.”
“Caliber and Abra have very similar leadership philosophies and cultures,” said Steve Grimshaw, CEO of Caliber, who now serves as CEO of the new combined company. “Combining these two world-class organizations will allow us to offer our customers greater convenience of our best-in-class collision repair experience across 37 states and the District of Columbia.
“We plan on maintaining all existing centers from both companies as we embark on our journey to create one company with one operating model and one culture. We plan on further strengthening our culture that strongly supports our teammates’ careers behind industry-leading development programs. And we remain committed to serving our valued insurance clients through the companies’ partnership programs, while enhancing their customers’ overall experience and complete satisfaction. That ability to stay ahead of what’s next will be vital in an industry that becomes more complex every year.”
The new combined company, now operating under the Caliber brand name, will provide customers and clients with the first national lifetime warranty along with even more offerings, including dedicated non-drive facilities, express repair centers and aluminum-certified and high-line centers. The combined company will also offer glass repair, diagnostic scanning and calibration services and a broad network of OEM-certified locations in the U.S.
Terms of the transaction were not disclosed. Private equity firm Hellman & Friedman – Abra’s majority shareholder since 2014 – will become the majority shareholder of the combined company. Caliber’s two largest shareholders, OMERS and Leonard Green & Partners, L.P. (LGP), will be minority shareholders in the combined company.
