According to statistics from the industry, car owners are likely to be involved in an accident about once every 10-12 year. Depending on the size and type of car, accidents can be very expensive and a hassle. It can be frustrating and time-consuming to fix your vehicle. Steve Grimshaw is the CEO of Caliber Collision. The company is headquartered in Lewisville, Texas.
Moody’s reduced Caliber’s outlook to “negative” in April. Despite the debt levels the company was able to report positive second-quarter EBITDA as well as operating cash flow, and free cash flow. It is expected that the merged business will earn between $10 to $12 billion in revenue over a few years. While the company’s financial health remains unaffected, the acquisition will likely increase the price of its stock.
Caliber has doubled its revenue since it acquired Abra. Together both companies will bring in $3.5 billion in revenue. Mewes and other collision financial experts estimate the combined revenue of the two companies as 10 to 12 percent of the overall market. Caliber has also expanded its brand and presence in the U.S. and some overseas markets. This will ultimately boost Caliber’s exposure within the field of collision repair.
Caliber will continue to grow and the company’s network of repair centers will provide additional services. It will include specialized nondrive, Express, Aluminum, and high-line repair centers. It will also offer glass mechanical, diagnostic scanning, and calibration services to its nationwide network. In addition to expanding its services the merger will provide Caliber a larger geographic footprint. The company will continue to expand its reach and network of auto body shops.
As a result of the merger, Caliber Collision will expand its network and extend its services. It will also add a dedicated NonDrive repair center as well as an Express center for Aluminum, and a high-line repair center for luxury vehicles. In addition to that, all Caliber and ABRA body shops will remain open and continue to provide outstanding service. The company that is merged will continue to expand its franchised stores throughout the U.S.
Since the acquisition, Caliber has added more locations, and is now generating more than $280 million in revenue. Caliber has been a part of OMERS, Canada’s largest pension fund, with a capital of $75 million. In 2013, OMERS purchased 75 percent of Caliber Automotive Repair, a company that is now one the largest companies for collision repair worldwide. It has opened 114 new locations in Canada and the United States.
Caliber moved from California in 2011 to North Texas. 51 Herb’s Paint and Body shops were acquired by Caliber in Dallas Fort Worth. Herb Walne founded Herb’s Paint and Body shops in 1956. They are still well-known for their excellent customer service. Caliber’s recent expansion into the U.S. has prompted speculation and worries. In the end, it’s tough to predict how the merger will affect the future of both companies.
ABRA and Caliber Collision have merged, which is a major win for both companies. Caliber will be in a position to expand its reach and create a more comprehensive brand through the merger. Both companies will remain in their current locations and will continue to expand their number of locations. This merger will not affect the brands or their quality of service. When choosing an repair center, it is important to understand all details. Their website provides more details about their products.
Caliber has expanded to new markets, and its revenue has increased from $280 million to $1.65billion since the merger. The merger will give the two companies more options and locations in the U.S. market. Apart from collision and auto glass repair, the two firms will provide auto glass repair, mechanical repair, and diagnostic scan and calibration services. They will have a network of over 600 locations across the United States to ensure that their customers receive the highest quality service available.
The merger comes with a number of advantages. ABRA’s customers will gain from the deal as they will lower their insurance costs. The merger will allow ABRA to serve their customers better and reduce the total repair costs. Caliber will be capable of expanding its operations in new areas thanks to the merger. ABRA will also benefit from the experience of a reputable partner. ABRA will see an increase in its revenue as a result of the merger. ABRA employees will also be able to create new jobs with the merger.
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