By CRM Staff
Toronto, Ontario — April 2, 2018 — Gerber Collision and Glass’s parent company, the Boyd Group, will continue to invest heavily in collision repair equipment, in response to the increasing importance of OEM certifications. Last year, the company doubled its budget for such capital investments from under 1 percent to 1.8 percent of its net sales – or about an $8 million investment.
“For 2018, due to the fast evolving collision repair market, the company again expects to make cash capital expenditures (excluding those related to acquisition and development of new locations) within the same range that it had guided for 2017,” the conglomerate announced in its annual report.
On Wednesday, CEO Brock Bulbuck said changes to automobiles meant the need for ‘specialized repair equipment.’
While the investment may sound like a whack, Gerber saw sales of more than $1.5 billion last year, during which the Boyd Group purchased 68 Assured Automotive facilities for $193.6 million.
For more information on the Boyd Group, visit boydgroup.comboydgroup.com.