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."