TORONTO, ONTARIO and LEWISVILLE, TEXAS--(Marketwired - Nov. 20, 2013) - OMERS Private Equity ("OPE") announced today that it, along with existing management, has acquired Caliber Collision Centers ("Caliber" or the "Company") from private equity firm ONCAP, Onex Corporation's mid-market private equity platform.
Based in Dallas, Texas, Caliber is the largest independent provider of automotive collision repair services in the U.S. with a network of 157 collision centres located 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 OPE. "We believe that Caliber will continue to distinguish itself as the market leader in the highly fragmented collision repair industry in the years ahead."
Steve Grimshaw said, "We are excited to be part of the OPE portfolio. OPE's culture, large capital base and long-term investment horizon make them an ideal partner for Caliber as we strive to become the collision repair provider of choice in every community that we serve. Going forward, our purpose will remain unchanged: restore our customers to the rhythm of their lives."
About Caliber Collision Centers
Caliber Collision Centers is the largest collision repair company in America with 157 I-CAR Gold Class Professional certified collision repair centres in California, Arizona, Nevada, Texas, Oklahoma, and Colorado. Caliber is consistently ranked among the highest customer satisfaction scores in the industry and backs all repair work with a written, lifetime warranty available at any of its 157 repair centres. For more information, please visit us at www.calibercollision.com.
About OMERS Private Equity Inc.
OMERS Private Equity ("OPE") is the private equity investment arm of the OMERS Worldwide group of companies. OPE manages the private equity activities of the OMERS pension plan and has over CAD$6 billion of investments under management. The group's investment strategy includes the active ownership of businesses in North America and Europe. OPE is headquartered in Toronto, Canada, with offices in London and New York. For further information visit: www.omerspe.com.
OMERS is one of Canada's largest pension funds with over CAD$60 billion in net assets. It provides first-class pension administration and innovative products and services to almost 430,000 members. Approximately one in every 20 employees working in the province of Ontario is an OMERS member. Through the OMERS Worldwide brand, our team of investment professionals uses a direct drive, active management investment strategy to invest in public and private market assets, including publicly-traded equities, fixed-income, infrastructure, private equity and real estate. For more information, please visit www.omersworldwide.com.
Caliber Collision Centers
President and CEO
OMERS Private Equity
Senior Managing Director