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Caliber Collision Centers has announced that its senior management team, in partnership with ONCAP, has invested in the company. ONCAP is a leading mid-market private equity firm based in Toronto that was established in 1999 by Onex Corporation, one of North America’s oldest and most successful private equity firms.
“This partnership represents a new chapter for Caliber," said John Hovis, president and CEO of Caliber. "With the commitment of our capital partners and our sustained operating performance, Caliber is now entering its next stage of growth as we look to strengthen our presence in our current markets, as well as expand our footprint into new markets and states. We remain committed to providing quality repairs and service to our customers and insurance clients, and look forward to seeking targeted opportunities for business growth.”
Michael Lay, managing partner of ONCAP, said, "We believe that Caliber’s leading market position, extensive insurance relationships and excellent customer service has positioned the company well for growth. We look forward to working with Caliber’s strong management team to build the long-term value of the company for its shareholders and customers."
Caliber was founded in 1997, is headquartered in Irvine, Calif., and currently owns and operates 66 professionally managed collision repair facilities in California and Texas. Management says Caliber will continue to open and develop new locations in response to market needs and customer demand.
For more information on Caliber, visit www.calibercollision.com.