News: Consolidator Report
Service King Collision Repair Centers, a Texas-based operator of high-quality collision repair facilities in the Dallas-Ft. Worth Metroplex and Houston markets, has agreed to acquire Alamo Body and Paint, the leading collision repair service provider in San Antonio, Texas, with eight large-scale, high-volume locations. Terms of the agreement were not disclosed.
The transaction is expected to be completed by May 1, 2011. The addition of Alamo Body and Paint positions Service King as the largest independently and employee-owned collision repair organization in the U.S. with 42 locations throughout San Antonio, Dallas, Ft. Worth and Houston areas.
"The acquisition of Alamo Body and Paint allows us to start serving the people of San Antonio," said Service King Vice President of Central Texas Brent McKinney. "Service King is committed to continuing Alamo Body and Paint’s long tradition of excellent customer service and good relationships with insurance companies and automotive dealerships. We look forward to adding Alamo’s talented employees and skilled technicians to our base of over 1,000 Service King teammates throughout Texas."
"We are very excited about Alamo Body and Paint joining the Service King Team," said Mark Fuller, Alamo Body and Paint’s co-owner and president. "For the past 25 years, our success has been driven by our unrelenting focus on complete satisfaction and respect for our customers and employees."
Mark Fuller will be joining the Service King Team as operations manager. Following the completion of this transaction, Alamo Body and Paint Co-Owner Dave Braun will dedicate all his time to continuing to develop Nexsyis Collision, Inc., the developer of NEXconnex, a leading multiple location operator-specific collision repair management system, where Braun serves as CEO.
Cathy Bonner, president of Service King, stated, "At the eight Alamo locations we will offer Service King’s renowned level of friendly and professional customer service. The quality of work by highly skilled and expertly trained body technicians and painters will carry a lifetime guarantee. In DFW and Houston, Service King is known as one of the ‘best places to work,’ and we plan to bring our same level of health, retirement and career benefits to all new teammates in San Antonio."
Service King Collision Repair Centers was founded 35 years ago by Owner, Chairman and CEO Eddie Lennox.
Lennox said, "The reason Service King is the largest employee-owned collision repair center in the United States is because the people in this company care about their customers and the trauma they go through after a collision. At Service King we don’t just fix wrecked cars; we help make people’s lives easier. And we do it with a team that puts their hands and their hearts completely into their work always taking pride in the service we give and the company that we own."
Symphony Advisors, LLC acted as advisors to Alamo Body and Paint throughout the acquisition process.