Caliber and Abra announce merger
- December 7, 2018
- Posted by: Simon Wait
- Category: Industry News
Caliber Collision and Abra Auto Body Repair of America announced a definitive merger agreement.
The agreement will bring together the companies’ teams, brands and operations to better serve its customers and insurance clients.
The combined company plans to make investments that benefit customers and teammates, which include enhanced technologies, customer experience and expanded best operational practices.
‘This combination will allow us to offer even greater satisfaction for our valued customers and insurance clients while creating new opportunities for the talented teammates of both companies,’ said Steve Grimshaw, Caliber chief executive officer.
The combined company will offer customers and clients a single solution with more offerings. Customers will also benefit from increased choice, as opportunities exist to expand the companies’ offerings such as glass, mechanical, diagnostic scanning and calibration services and the broadest network of OEM-certified locations in the U.S.
‘Our industry becomes more complex every year,’ said Abra CEO Ann Fandozzi. ‘The combined company will invest in the equipment, training and technologies that will allow our teammates to build their careers while continuing to meet and exceed our customers’ needs for years to come. Abra’s leadership team is excited by the opportunities this combination with Caliber creates for customers, insurance clients and teammates.’
During the transition, customers and insurance clients should expect to see no disruption to the service and repairs they receive at both companies. Terms of the transaction were not disclosed. As part of this transaction, private equity firm Hellman & Freidman LLC – Abra’s majority shareholder – will become the majority shareholder of the combined company.
