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Friday, 12 September 2014 21:34

Boyd Group Acquires All Seven Champs Locations in Southeast Louisiana

The Boyd Group Inc. has signed a definitive agreement and concurrently closed the acquisition of Champ’s Holding Company, LLC (“Champ’s”) the company announced in a news release on Sept. 12.

Champ’s is a premier full-service auto collision repair service provider in southeast Louisiana, owning and operating seven collision repair centers. Champs locations are in New Orleans, 4047 South Carrollton Ave.; Elmwood, 200 Edwards Ave, Harahan, LA; Kenner, 1601 22nd Street; Westbank, 3621 Lapalco Blvd., Harvey, LA; Northshore, 2501 Florida Street, Mandeville, LA; Hammond, 500 South Morrison Blvd.; and Baton Rouge, 6137 Siegen Lane.

Champ’s has grown significantly since its inception in 1978 and generated sales of approximately $37 million for the trailing twelve months ended June 2014. This acquisition increases the number of Boyd collision repair locations to 313 across 16 states and five provinces.

“We are very pleased to enter the Louisiana market which will expand our reach to new customers, increase our geographical footprint for our insurance industry partners and also provide us with another new market from which to execute our single location growth strategy,” said Brock Bulbuck, President and Chief Executive Officer of the Boyd Group. “With this acquisition we strengthen our position as the largest multi-shop operator in North America in terms of number of locations, and demonstrate our ability to add attractive multi-shop operations in line with our growth strategy.”

“Our team is proud of the business we have built over the last 36 years,” added Champ’s President Danny Kingston. “Champ’s decades of growth and success in the collision business are a direct result of the efforts of our knowledgeable, friendly, and professional team. We are excited to build on our accomplishments as part of the Boyd team.”

The total purchase price consideration of approximately $35.0 million, will be funded through a combination of seller financing and use of Boyd’s revolving credit facility. This purchase price reflects a valuation multiple that is within the range of other recent multi-location acquisitions completed by Boyd.

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