Focus Advisors Analyzes Collision Works Sale to Gerber

Focus Advisors Analyzes Gerber Acquisition of Collision Works

Focus Advisors says the recent sale of Collision Works to Gerber Collision & Glass is illustrative of how large MSOs are creating value for their owners.

Focus Advisors has offered some analysis on the recent sale of the 35-location Collision Works MSO to Gerber Collision & Glass, which it feels is illustrative of how large MSOs are creating value for their owners.

Gerber’s acquisition of Collision Works is the largest acquisition of an independent MSO in the last three years. Combined with the acquisition of John Harris Body Shops in South Carolina, Focus Advisors estimates that Gerber has added nearly 10% to its overall revenues with these two large acquisitions. These acquisitions by Gerber reflect the continued strength of large consolidators in growing their businesses.

“It takes a lot of revenue to move the dial on a big enterprise like Gerber,” stated Focus Advisors.

Focus Advisors estimates Collision Works’ revenues in the $100 million range in Oklahoma and Kansas, three fast-growing midwestern markets (Oklahoma City, Kansas City and Tulsa), and a host of smaller adjacent markets. John Harris operated 16 shops with an estimated revenue of $40 million with large and small shops across South Carolina and parts of Georgia.

A Template for Growth

Collision Works Owner Jake Nossaman and his team built a solid foundation, beginning with large, well-located operations in and around the Oklahoma City market. They continued to grow with both greenfield and acquisition strategies. Collision Works entered a second large market, Kansas City, with a greenfield development and proceeded to acquire shops in and around that market. With an eight-shop MSO acquisition (Auto Craft), Collision Works expanded its reach into the Wichita market and continued adding single shops to reach the full complement of 36 shops upon sale to Gerber.

To finance some of its initial growth, Collision Works teamed up with a substantial capital partner – Bank of Oklahoma. In 2019, it refinanced its real estate portfolio to acquire $50 million in additional capital and used these resources to pay down debt, continue buying and integrating shops across their markets.

Exit Strategies

Along the way, Collision Works also looked at the possibility of joining forces with a very large private equity firm, according to Focus Advisors. In the end, because of its scale and infrastructure, Collision Works had multiple exit opportunities – from selling to a consolidator to recapitalizing the company with a large private equity investor to merging with other strong operators.

With few remaining regional MSOs left in the U.S. approaching the size of Collision Works, Focus Advisors expects the scarcity value will allow those remaining operators with more than $50 million in sales to continue to find enthusiastic buyers – or private equity investors.

For rapidly growing regional and super-regional MSOs, scale, infrastructure, relationships with insurers and access to capital will be the primary elements determining future success.

For more information on Focus Advisors, visit

You May Also Like

Crash Champions Expands in New Jersey

Crash Champions announced the acquisition of Terry’s Auto Body in Whippany, N.J., and Towne Auto Restoration in Randolph, N.J.

Crash Champions has announced the addition of two New Jersey repair centers, Terry’s Auto Body in Whippany, N.J., and Towne Auto Restoration in Randolph, N.J.

Crash Champions now has six locations in the Garden State, complementing a lineup of more than 600 repair centers in 36 states and Washington, D.C.

CARSTAR Opens New Franchise in California

CARSTAR has announced the opening of CARSTAR Body Lines Collision in Freedom, Calif.

1Collision Adds Arizona-Based Estrella Collision to Network

Based in Avondale, Ariz., the family-owned and operated collision repair and paint facility prides itself on providing excellent service to customers and operating with integrity.

Crash Champions Names Eric Pitt as Chief Financial Officer

Pitt joins the Crash Champions executive leadership team after previously serving as CFO at HGreg, a major independent automotive dealer with locations across the U.S. and Canada.

Classic Collision Grows Twice in Washington

Classic Collision has announced two new closings in the state of Washington — KDK Enterprises in Federal Way and AP Collision Center in Lynnwood.

Other Posts

Consolidator Report

Consolidation news from the week of Sept. 18.

NABC Donates Recycled Ride to Deserving Chicago Mom

The NABC, Travelers and Gerber Collision & Glass recently donated a refurbished vehicle to a deserving Chicago-area mom.

Matt Ebert of Crash Champions to Lead 2023 MSO Symposium

Matt Ebert, founder and CEO of Crash Champions, will emcee the 2023 MSO Symposium Oct. 30 in Las Vegas.

Consolidator Report

Consolidation news from the week of Aug. 21.