Winnipeg, Manitoba — April 24, 2017 — The Winnipeg-based Boyd Group has announced the acquisition of another collision repair location in Oregon. The location previously operated as C.E. Miller Auto Body and is located in Salem. The facility has been in operation for 63 years.
This follows relatively recent news from Boyd regarding the acquisition of two other facilities in Oregon: the McMinnville and Newberg locations of True Form Collision Repair.
“We are pleased to be growing our presence in Oregon and particularly this location which is in the capital of the state and close to the busy north-south Interstate 5 highway,” said Tim O’Day, President and COO of the Boyd Group. “This location has served the collision repair needs of three generations of drivers and we are pleased that Kevin Crow will continue to manage this center. He and his team are committed to providing the same professional and friendly service that is the signature of all Gerber locations.”
This is at least the eighth shop acquired by the Boyd Group since the start of the year. When it comes to acquisitions, 2014 and 2016 still stand as record years for the company. More acquisitions are certain to be announced in the next few years if the Boyd Group is to hit its publicly stated target of doubling in size between 2015 and 2020.
Stock in the Boyd Group Income Fund had its target price lifted by Royal Bank of Canada from $88.00 to $89.00 in a report published on April. The stock was trading at $87.25 on the Toronto Stock Exchange at the close of trading on April 24, 2017.
The Boyd Group currently operates locations in five Canadian provinces and in 20 US states. The company also has significant operations in automotive glass, operating in 31 US states under various names.