By CRM Staff
Toronto, Ontario -- February 7, 2019 -- Caliber Collision Centers and Abra Body Repair of America have joined forces and announced the closing of their merger, their U.S. brands.
Moving forward the combined company, which will operate under the Caliber name, plans on investing further in advanced technologies, specialized resources, and innovative processes to redefine world-class standards for quality repairs and customer service in the industry.
"Caliber and Abra have very similar leadership philosophies and cultures. Combining these two world-class organizations will allow us to offer our customers greater convenience of our best-in-class collision repair experience across 37 states and the District of Columbia,” said Steve Grimshaw, Caliber's chief executive officer, who now serves as CEO of the new combined company. “We plan on maintaining all existing centers from both companies as we embark on our journey to create one company with one operating model and one culture. We plan on further strengthening our culture that strongly supports our teammates’ careers behind industry-leading development programs. And we remain committed to serving our valued insurance clients through the companies’ partnership programs while enhancing their customers’ overall experience and complete satisfaction. That ability to stay ahead of what’s next will be vital in an industry that becomes more complex every year.”
The new Caliber company will be providing customers with the first national lifetime warranty, while also offering dedicated non-driver facilities, express repair centers, and aluminum-certified and high-line centers. The combined company will also offer glass repair, diagnostic scanning and calibration services and a diverse network of OEM-certified location in the U.S.
Private equity firm Hellman & Friedman, Abra's majority shareholder since 2014, will become the majority shareholder for the combined company. Caliber’s two biggest shareholders, OMERS and Leonard Green & Partners, L.P. will serve as minority shareholders.
“We believe this merger represents the next evolution of the collision repair industry. The combination further enhances the companies’ best-in-class performance metrics, proven acquisition integration processes, strong relationships with insurance clients and career opportunities for our teammates,” said Erik Ragatz, partner at Hellman & Friedman. “The combined company’s expanded suite of one-stop services, together with its culture dedicated to doing the right thing for customers, clients and teammates, represents the future of the collision repair industry.”