“I’m extremely excited for the future of Herbers Autobody, knowing that we have access to the financial and business development resources of Peninsula and VergePointe,” says Collin Herbers. “We have built a sustainable competitive advantage, and this transaction facilitates our ability to capitalize on that advantage by growing the business in addition to allowing the existing Leadership Team exciting opportunities to benefit from that growth.”
Herbers also announced the promotion of Fred Mueller to President. Mueller was originally hired by Herbers Autobody in 1990 as the Controller and was subsequently promoted to Vice President of Corporate Administration in 2009. As President, Mueller will be responsible for the daily operations of the company and is looking forward to “continuing to deliver a ‘best in class’ value proposition for our customers and working with the CEO & Board to grow the Company.”
A statement from Herbers Autobody says these announcements will provide the opportunity for the Company to meet customer demand for growth within Edmonton and other Alberta markets.
“We are very excited to work with the team at Herbers to help grow and extend the company within Edmonton and Alberta. Herbers has a great reputation for delivering high levels of service and a high quality experience for its customers. We plan to focus on the core business and expand from that base,” says Matt Vance of VergePointe Capital, a private equity firm located in Lake Oswego, Oregon. Vance and Scott Roberts will assist the Company and manage the investment on behalf of VergePointe Capital.
Peninsula Capital Partners, based in Detroit, Michigan, is an investment company specializing in providing capital to superior middle-market companies. Over the last 20 years Peninsula has invested over $1 billion in more than 110 companies across a wide range of industries throughout the United States and Canada.
For more information on Herbers Autobody Repair, please visit herbersautobody.com.