AutoCanada Launches Strategic Review to Accelerate Growth of its Collision Operations, ACX
Following a year of acquisitions, ACX is moving toward an independent structure as AutoCanada reviews strategic alternatives to generate rapid growth of its collision repair platform.
The board has established a special committee of independent directors to analyze and evaluate a range of strategic options to maximize value for AutoCanada and its shareholders, all in an effort to support the continued growth of its Collision Operations. These alternatives could include, but not limited to, a separation of the business from AutoCanada, and a potential sale of all or part of the business, according to a September 29 announcement.
“AutoCanada’s Collision Operations has reached a scale that provides a strong foundation for continued organic growth and acquisitions,” said Samuel Cochrane, AutoCanada’s chief executive officer. “With a substantial pipeline of opportunities ahead, we are exploring how to best unlock embedded value for AutoCanada shareholders and position the Collision Operations to accelerate growth.”
“We have built an incredible business with an exceptional team over the past eight years,” Arthur Crawford, President Collision Operations (ACX) said. “We have established a scalable national platform, and the timing is right to accelerate our growth and capture the opportunities ahead.”
There can be no assurance that the Strategic Review will result in a specific outcome. Regardless, AutoCanada will remain an important partner under ACX’s growth plans.
ACX has 38 collision centres, with 26 original equipment manufacturer certifications covering 37 vehicle brands.
