Oncap has acquired an undisclosed stake in Caliber Collision Centers, an Irvine, Calif.-based owner and operator of 66 collision repair facilities in California and Texas. No financial terms were disclosed.
Caliber Collision Centers (“Caliber” or the “Company”) is pleased to announce that its senior management team, in partnership with ONCAP, has invested in the Company. ONCAP is a leading mid-market private equity firm based in Toronto that was established in 1999 by Onex Corporation, one of North America’s oldest and most successful private equity firms.
“This partnership represents a new chapter for Caliber. With the commitment of our capital partners and our sustained operating performance, Caliber is now entering its next stage of growth as we look to strengthen our presence in our current markets, as well as expand our footprint into new markets and states,” said John Hovis, President & CEO of Caliber. “We remain committed to providing quality repairs and service to our customers and insurance clients, and look forward to seeking targeted opportunities for business growth.”
Michael Lay, Managing Partner of ONCAP, said, “We believe that Caliber’s leading market position, extensive insurance relationships and excellent customer service has positioned the Company well for growth. We look forward to working with Caliber’s strong management team to build the long-term value of the Company for its shareholders and customers.”
About Caliber Collision Centers
Founded in 1997, with headquarters in Irvine, Caliber currently owns and operates 66 professionally managed collision repair facilities in California and Texas. Caliber will continue to open and develop new locations in response to market needs and customer demand for quality collision repair services. Additional information on Caliber may be found at www.calibercollision.com.
ONCAP is the mid-market private equity firm of Onex Corporation. Onex is one of North America’s oldest and most successful private equity firms. It makes private equity investments through the Onex Partners and ONCAP families of funds. Onex also manages alternative asset platforms focused on Real Estate and Credit Securities. In total, Onex has more than $10 billion of assets under management. Onex shares trade on the Toronto Stock Exchange under the symbol OCX. For additional information on ONCAP, please visit www.oncap.com.