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MSO enters two new states with expansion into Virginia and Maryland.
Caliber Collision Centers announced that it has entered into a definitive agreement with Craftsman Auto Body and Pohanka Collision Centers to form a strategic alliance with the two companies as Caliber continues to expand its eastern U.S. footprint.
Caliber currently operates 207 collision centers in nine states. Craftsman, a third generation, family-owned business, has 13 locations throughout Virginia. Pohanka, also family-owned, was founded in 1919, and has locations across Northern Virginia and Maryland including its recently opened 12th location in Stafford, Va. Both Craftsman and Pohanka have worked cooperatively on various strategic initiatives for the past nine years.
“This transaction represents an important strategic opportunity that provides us a solid platform in Virginia and Maryland with two high quality, industry-leading teams,” said Caliber CEO Steve Grimshaw. “Like many others in the industry, we have admired Craftsman and Pohanka for many years. We are honored that they have agreed to partner with us as we work together to restore Virginia and Maryland customers to the rhythm of their lives.”
“Our team is excited to be joining forces with Caliber Collision,” said Craftsman Auto Body CEO Paul Krauss. “Caliber has done an exceptional job of building a solid reputation for delivering customer choice combined with industry-leading metrics. Just as important to us is the fact that they have a culture that is compatible with the values and standards that are the backbone of our business.”
Chris Pohanka, owner/vice president of operations of Pohanka Collision Centers, added, “We are thrilled to continue to work with Craftsman as we join together to help Caliber grow its network across the country. This is a great opportunity for all of us.”
“Our partnership with Craftsman Auto Body and Pohanka Collision Centers will increase Caliber’s network to 232 locations as we continue to grow into the collision repair provider of choice in every community we serve,” said Mark Sanders, Caliber’s president and COO.
The transaction is expected to close December 31, 2014.