Penfund has completed a $60 million 2nd lien loan to Caliber Collision Centers, a portfolio company of OMERS Private Equity. Lewisville, Texas-based Caliber operates collision repair centers in the United States.
TORONTO, ONTARIO–(Marketwired – Nov. 25, 2013) – Penfund, an independent provider of capital to middle market companies located in the United States and Canada, announced today the completion of a US$60 million 2nd lien loan to Caliber Collision Centers (“Caliber”). Caliber is a recently-acquired portfolio company of OMERS Private Equity Inc. (“OMERS”).
Headquartered in Lewisville, Texas, Caliber is one of the largest operators of collision repair centers in the United States. The company operates 157 repair centers and provides vehicle owners and automobile insurers with high quality, timely repairs in conveniently located, modern facilities.
Jeremy Thompson, a partner at Penfund, stated “We are delighted to have been able to support OMERS’s acquisition of Caliber. We are also very pleased to continue our long association with Caliber. We believe Caliber’s exceptional management team will continue to rapidly grow the business with the backing of the human and financial resources of OMERS. This growth will be underpinned by the intensifying desire of automobile insurers to rely on the ability of large, efficient and trustworthy repair center operators to deliver high quality services to their policy holders.”
“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 OMERS. “We believe that Caliber will continue to distinguish itself as the market leader in the highly fragmented collision repair industry in the years ahead.”
About Caliber Collision Centers
Caliber Collision Centers is the largest collision repair company in America with 157 I-CAR Gold Class Professional certified collision repair centers in California, Arizona, Nevada, Texas, Oklahoma, and Colorado. Caliber is consistently ranked among the highest customer satisfaction scores in the industry and backs all repair work with a written, lifetime warranty available at any of its 157 repair centers. For more information, please visit us at www.calibercollision.com.
About OMERS Private Equity Inc.
OMERS Private Equity Inc. is the private equity investment arm of the OMERS Worldwide group of companies. It manages the private equity activities of the OMERS pension plan and has over CAD$6 billion of investments under management. The group’s investment strategy includes the active ownership of businesses in North America and Europe. OMERS Private Equity Inc. is headquartered in Toronto, Canada, with offices in London and New York. For further information visit: www.omerspe.com.
Penfund is a leading Canadian private equity firm specializing in providing junior capital to middle market companies throughout North America. Penfund provides second lien, high yield and mezzanine debt, control and minority equity, as well as bridge facilities, standby lines, underwritten facilities and financial guarantees. The firm is owned by its management team and is currently investing its most recently established fund, Penfund Capital Fund IV which has $460 million of committed capital. Penfund manages institutional funds sourced from Canadian pension funds, insurance companies, family offices and banks and has invested more than $2.5 billion in over 220 companies since its establishment in 1979.