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Tuesday, 08 November 2011 20:31

ABRA Partners With Investment Firm to Continue Planned National Expansion

Palladium Equity Partners, LLC, a private investment firm, announced November 7 that it has partnered with management to recapitalize ABRA Auto Body & Glass. Terms of the transaction were not disclosed.

Founded in 1984, ABRA is a recognized leader in collision repair, paintless dent removal, and auto glass repair and replacement with 75 company-owned vehicle damage repair centers and 38 franchised centers in 12 states. ABRA distinguishes itself by providing a solution that seeks to enable its insurance company partners to substantially improve customer satisfaction and drive policyholder retention, while simultaneously reducing repair costs and realizing substantial efficiencies in the claims management process. ABRA's commitment to operational excellence allows it to consistently offer high quality service to its customers and insurance partners.

Rollie Benjamin, ABRA's founder, will remain Chairman of the Company and Tim Adelmann and Scott Krohn will continue in their senior executive roles. Duane Rouse, ABRA's President and Chief Financial Officer, was appointed Chief Executive Officer in connection with the transaction.

Rouse said, "We are extremely pleased to be working with Palladium, a firm with a strong track record as an investor and many years of experience helping companies grow. With this partnership in place, we are well-positioned to accelerate our national expansion plan, and to further our mission of becoming the leading auto body and glass company in America."

Luis Zaldivar, a Managing Director at Palladium, said "ABRA is well-known throughout the industry as a premier provider of auto body, auto glass and paintless dent repair services. But it is ABRA's innovative service model and deep insurance industry relationships that truly set it apart. The Company has a terrific management team that has guided its organic growth over the course of nearly three decades–including through the establishment of a highly successful franchise program. Palladium looks forward to partnering with ABRA on a range of new market opportunities in the months and years ahead."

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