Collision Revision, a multi–shop operator in the Chicago area with 29 locations, announced that key members of the management team of have placed a bid to acquire the assets and stock of the company held by the company’s founder, Roger A. D’Orazio, Jr.
Collision Revision says it’s the seventh largest collision repair operator in the United States and the largest privately-held without any outside equity partners.
As part of the bid, the new group will acquire the company’s intellectual property and trade name as well as assuming customer and supplier contracts and obligations. Details of the deal structure were not disclosed other than to say that no real estate is being sold as part of the transaction.
The headquarters for the business will remain in Joliet, IL. Chief Information Officer Fiore D’Orazio led the buyout and he will assume the role of CEO for the interim.
Bryan Perino, a proposed executive director and member of the acquiring management team, as well as a 15-year company veteran said, “In addition to executing on our mission to create Raving Fans, we are evaluating additional resources to expand our business through inorganic acquisitions of regional multiple shop operators across the United States.”
Lee Blank, another proposed executive director and member of the acquiring management team, as well as a 23-year veteran of the company said, “Our executive team recognizes we can generate significant value for our customers, employees, suppliers and shareholders through this acquisition and look forward to helping lead the business into the next generation. We will diligently focus on quality, delivery and cost, producing quality repairs and service for vehicle owners and our insurance customers.”
Collision Revision, Inc. was founded in 1976 by Roger A. D’Orazio, Jr. at the age of 17. The company currently operates 29 repair centers throughout Illinois (26), Indiana (2) and Florida (1) and completes over 28,000 repair orders per year.
Roger A. D’Orazio, Jr. also founded and is the chairman of DORA Holdings, Inc. a private holding company with operating interests in automotive (new, used car vehicle sales, including consumer financing and reinsurance).