Focus Advisors announced the successful sale of a three-shop Ohio-based MSO to CollisionRight.
The transaction marks a successful exit for owner Tony Perrino, who acquired a small shop from his father in 2015 and grew it into a highly successful MSO comprised of two collision repair shops, Action CARSTAR and CARSTAR Chardon Square and a complementary auto mechanical business in the Cleveland metropolitan area.
David Roberts, managing director of Focus Advisors, noted that consolidators are increasingly interested in acquiring mechanical businesses, “especially when those businesses are complementary to the seller’s collision shops and service a significant amount of collision work, not just retail mechanical.”
“Developing this business wasn’t easy, from reorganizing how the original shop in Euclid ran to investing heavily in expansion and equipment to rebuilding Chardon after it burned to the ground in an accidental fire,” said Perrino. “I’m privileged and proud to have worked alongside a fantastic team of managers and employees who helped me get here. I’m also happy I chose Focus Advisors to become part of my team to help me complete this journey. Chris Lane and David Roberts knew exactly how to present my business and close the transaction to get the value I worked hard to achieve.”
In addition to their mechanical capabilities, which was an attractive aspect of the business when Focus Advisors took Perrino’s business to market, the leadership at Action CARSTAR has focused on lean processes, building a strong team, and investing heavily in real estate and quality equipment.
“We recognized Tony and his business as one of the leaders in the CARSTAR network and were extremely pleased when he chose us to represent him in his sale,” said Chris Lane, partner at Focus Advisors. “Although he had multiple bidders for his business, I think we all felt CollisionRight was ultimately the best fit for his operation and employees, and we are happy we could facilitate what we see as a very successful partnership.”
The acquisition of the Action CARSTAR portfolio, along with other recently announced acquisitions, brings CollisionRight’s shop total to 80. The Dublin, Ohio-based acquirer, which was founded by Rich Harrison and funded by CenterOak Partners in 2020, now has a presence in nine states: Illinois, Kentucky, Indiana, Maryland, Michigan, Pennsylvania, Ohio, Tennessee and West Virginia.
For more information on Focus Advisors, visit focusadvisors.com.