3M to Acquire Meguiar’s Inc.
3M announced today that it has entered into an agreement to acquire Irvine, Calif.-based Meguiar’s Inc. Terms of the transaction were not disclosed. Meguiar’s brings its products and 100-year history to 3M’s range of automotive aftermarket products. Meguiar’s products include waxes, polishes, cleaners, conditioners and protectants for the automotive and marine markets. "The addition of
3M Acquires K&H Surface Technologies Pty. Ltd.
3M announced today it has acquired K&H Surface Technologies Pty. Ltd., an Australia-based manufacturing company specializing in a range of products for the automotive refinish markets. Terms of the transaction were not disclosed. K&H employs about 60 people at its Melbourne headquarters. K&H’s surface preparation and auto retail products, body fillers and mold release agents
Lithia Motors Plans to Drop Up to 15 Stores Around U.S.
According to a report out of The Register-Guard of Eugene, Ore., new/used car dealer and body shop consolidator Lithia Motors is pursuing a major restructuring, including selling 10 to 15 stores, due to lower sales. “As the economic environment has worsened, we have taken a comprehensive look at our business and determined how it can
WAI Global Appoints Former Keystone Automotive CEO as Executive Chairman
WAI Global announced the appointment of Richard L. Keister as executive chairman of the company and his purchase of an undisclosed ownership position in the organization. Keister most recently served as chief executive officer of Keystone Automotive Industries, which was acquired by LKQ Corporation in October 2007. He continues to serve as a member of
LKQ Corporation Reports Record Revenues
LKQ Corporation today announced results for its first quarter ended March 31, 2008, with revenue of $491.9 million, net income of $30.9 million and diluted earnings per share of $0.22. "We reported record revenue and earnings for the quarter with revenue growth at 109 percent and net income growth at just over 95 percent," said
Tasco to Acquire Collision Equipment Group
PPG distributor and Collision Equipment Group (CEG) founding member Tasco Auto Color has announced the acquisition of CEG as a strategic move to accommodate CEG’s rapid growth. CEG and Tasco will expand their exclusive distribution agreement with Spanesi, S.p.A to include a broader range of Spanesi products and even closer ties to the Italian manufacturer
CCC-Mitchell Merger Targets Single Platform, Says CCC Rep
Attendees of the Collision Industry Conference held in Philadelphia April 16-17 received a little more insight into the recent announcement that CCC and Mitchell will merge thanks to Jim Dickens, CCC’s Senior Vice President of Product Management and Marketing. Perhaps the most compelling information Dickens offered was that the intent of the merger is to
Antitrust
‘Antitrust’ is spoken of frequently in the collision repair industry but is still often
misunderstood. Here’s a clear definition of what it is and how it relates to insurer- repairer business relations.
Sold!
“How do you evaluate and sell your business?”
Going Head to Head
Collision repair consolidators seem focused on customer service as opposed to offering insurance companies even lower repair costs. They’re also concentrated on honing their operations to a razor sharp state of efficiency (which, incidentally, will lower repair costs).