Crash Champions to develop into a foremost national collision repair service assistance company and a single of the speediest developing operators with around 550 areas across 35 states
CHICAGO and SANTA MONICA, Calif. and DALLAS, July 14, 2022 /PRNewswire/ — Crash Champions (“Crash Champions” or the “Corporation”), just one of the nation’s swiftest growing independent collision maintenance provider vendors, declared nowadays that it has entered into an agreement to receive a progress investment decision from Clearlake Funds Group, L.P. (jointly with its affiliate marketers, “Clearlake“) and will concurrently execute a strategic transaction with Assistance King Collision (“Service King”). Crash Champions’ administration group and functioning companions, along with Clearlake, will direct the merged Company going ahead. Following closing and integration, the Company will operate more than 550 whole locations across 35 states and the District of Columbia under the Crash Champions title and banner. Phrases of the transaction, which is issue to customary closing disorders which include regulatory clearances, had been not disclosed.
/cloudfront-us-east-1.images.arcpublishing.com/gray/5G42BXBNHVDWNHXMPHV4T7ERNI.jpg "Crash Champions Announces Growth Investment from Clearlake and Strategic Transaction with Service King")
Established in 1999 by Matt Ebert, Crash Champions is a U.S. operator of above 200 collision maintenance amenities. Having expanded from a one storefront in Chicago into a existing-working day community of 20 states, every single spot is designed on the Firm’s founder and operator-led values, championing purchaser support and place of work fulfillment.
Since its founding in 1976, Provider King has grown into just one of the industry’s major collision restore platforms with in excess of 330 areas spanning 24 states. Nowadays, Provider King provides deep footprint protection in several of the nation’s quickest expanding MSAs, which includes Atlanta, Austin, Dallas, Houston, Las Vegas, Nashville, Phoenix, Salt Lake Town, San Antonio, Seattle, and Washington, D.C. Partnering with Crash Champions will let Provider King to much better provide its prospects and carrier associates, while driving lengthy-phrase benefit for employees, suppliers, and traders.
“Today is an interesting day for Crash Champions and one more significant milestone in our development story,” mentioned Mr. Ebert, founder and CEO of Crash Champions. “This strategic blend further enhances our means to provide our clients and insurance companions while generating progression chances for our crew members across both equally corporations.”
As portion of the transaction, Clearlake is delivering progress cash to Crash Champions. This marks Clearlake’s next investment decision in the collision repair service market, acquiring not too long ago introduced the funds infusion and personal debt recapitalization of Service King. Crash Champions’ management group will execute on the Firm’s go-ahead technique with Clearlake’s assist.
“This financial investment was driven by our thematic-dependent solution to investing in the automotive aftermarket and our specific identification of the collision maintenance sector as an ecosystem at a historic inflection issue,” claimed José E. Feliciano, Co-Founder and Taking care of Associate, and Colin Leonard, Lover of Clearlake. “The proliferation of automobile technologies has place exclusive needs on the shop operators to make investments in OEM certifications, tools, and most importantly their staff to produce secure and successful provider. We are amazed by Matt and the Crash Champions leadership crew and admire their dedication to buyer support and re-expense in both equally their functions and talent. It is enjoyable to companion with them to build this differentiated countrywide system, and we glimpse ahead to utilizing our O.P.S.® framework to unlock the inherent value of this mix and posture the platform for continued solid progress.”
Next the closing of this deal, the blended Company’s complete workforce will exceed 9,200 team members. Crash Champions and Support King have very complementary geographic footprints with constrained overlap. During the submit-closing integration pursuits, equally Crash Champions and Support King will keep on working at all company facilities nationwide with out interruption.
“We keep on being dedicated to the operator-to start with attitude that has guided us all through our historical past. This approach has enabled us to productively combine hundreds of outlets and countless numbers of workforce into one particular of the foremost employers in the collision repair service sector. As we welcome Support King’s shoppers and qualified crew users into our family, we will continue this tradition and receive their believe in each day,” concluded Mr. Ebert.
For additional information and facts about Crash Champions, take a look at our web-site and look at our online video right here. For people collision repair firms interested in providing their organization, Crash has built it easy. Remember to go to www.crashchampions.com/offer-your-store to master additional.
Crash Champions is a foremost unbiased collision repair organization operating 218 point out-of-the-artwork facilities across 20 states—including: California, Colorado, Florida, Idaho, Illinois, Iowa, Kansas, Maryland, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, North Carolina, Pennsylvania, Ohio, Oregon, Washington, and Wisconsin—as nicely as Washington, DC. Launched in 1999 as a solitary store exterior Chicago by business veteran and entrepreneur Matt Ebert, these days Crash Champions is just one of the swiftest rising and most significant founder-led and operated collision mend MSOs in America. For much more data, visit www.crashchampions.com.
About Assistance King Collision®
Provider King Collision®, which is now celebrating around 45 several years of encounter in the automotive mend market, is a national operator of extensive, higher-quality car system collision restore services. The group is persistently recognized for its determination to buyer satisfaction, top quality workmanship, and offering back to the field by way of ground breaking instruction and recruiting initiatives. Service King traces its roots to Dallas, Texas and founder Eddie Lennox, who opened the to start with Support King in 1976. Today, Company King operates 334 spots in 24 states, as very well as the District of Columbia. For much more info, you should visit www.serviceking.com.
About Clearlake Money Team
Clearlake Cash Group, L.P. is an financial commitment company established in 2006 running built-in businesses throughout non-public equity, credit rating, and other similar strategies. With a sector-concentrated tactic, the organization seeks to spouse with management teams by furnishing affected person, prolonged-expression money to organizations that can profit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core focus on sectors are industrials, technological innovation, and client. Clearlake currently has over $72 billion of property beneath management, and its senior investment principals have led or co-led over 400 investments. The organization is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, British isles and Dublin, Eire. A lot more information and facts is offered at www.clearlake.com and on Twitter @Clearlake.
Contacts:
For Crash Champions
Gaffney Bennett PR
[email protected]
For Clearlake
Jennifer Hurson
Lambert & Co.
(845) 507-0571
[email protected]
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