TORONTO – OMERS Private Equity has partnered with management at Caliber Collision Centers to acquire the U.S. network of 157 automotive collision repairs centres.
Financial details of the purchase from ONCAP, Onex Corp.’s (TSX:OCX) mid-market private equity platform, were not disclosed.
Based in Dallas, Texas, Caliber is the largest independent provider of automotive collision repair services in the United States, with repair centres in California, Texas, Arizona, Nevada, Oklahoma and Colorado.
The Company has approximately 3,700 employees and repairs more than 285,000 vehicles annually.
“We are thrilled to partner with Steve Grimshaw, president and CEO of Caliber, and his management team for the company’s next phase of growth,” said Tim Patterson, senior managing director at OMERS Private Equity.
“We believe that Caliber will continue to distinguish itself as the market leader in the highly fragmented collision repair industry in the years ahead.”
OMERS Private Equity is the private equity investment arm of the Ontario Municipal Employees Retirement System, a pension fund representing more than 430,000 workers in Ontario.