Taking Time for 2029: Boyd releases new five year goal report; highlights plans to grow revenue to $5 billion by 2029

Toronto, Ontario – Boyd Group Services Inc. has announced the launch of its latest five year goal report, outlining plans to drive growth and profitability through 2029.

Key highlights of the report include:

• Plans to grow revenue to $5 billion in 2029
• Double adjusted EBITDA to $700 million between 2024 to 2029
• Expand market share and retain a leadership position in all markets served
• Achieve top-tier profitability in the North American collision industry

In order to achieve these long term goals, the five year plan report indicates that the company will continue to work on driving revenue through a combination of same-store growth and new shop expansion.

“This expansion encompasses single shop acquisitions, brownfield and greenfield start-ups and small multilocations acquisitions,” says Boyd. “Leveraging its strong cash flow generation and solid balance sheet, the company is well positioned to fund this growth with an estimated $1.5 billion in cash available for growth through the plan period.”

“Boyd will also continue to be a strategic buyer of larger multi-location acquisitions and if successful, these acquisitions would be incremental to the company’s revenue growth goals,” the company continued.

Additionally, the five year plan report further notes that “the company is accelerating its focus on operational excellence and profitability with ‘Project 360,’ a company-wide transformation initiative launched in Q4 2024 in partnership with a leading global consulting firm.”

Here, Project 360 is designed to expand margins as Boyd scales its business and grows its market share, said the company.

“As I prepare for my retirement in May and with Brian’s appointment as CEO, it is the ideal time for Boyd to unveil its new five-year goal,” said Tim O’Day, Chief Executive Officer of the Boyd Group. “Building on the significant growth Boyd has experienced to date; this plan delivers continued double-digit percentage revenue growth and accelerated profitability. I am confident in Brian and the team’s ability to execute this plan and capitalize on the significant opportunities in our highly fragmented market.”

“I am excited to lead Boyd into this next phase of growth,” added Brian Kaner, President & Chief Operating Officer and incoming CEO. “Our new five-year goal is focused on expanding our market share along with Adjusted EBITDA(1) margins as we continue to consolidate the North American collision industry.”

For more information, or to read the full report, click here.