- OpenRoad’s initial investment was Car Crafters, a collision repair center in New Mexico
- Tom Csekme will serve as CEO of OpenRoad
- Trivest has roughly $4 billion in assets under management
Trivest Partners and LP First Capital formed OpenRoad, a family of collision repair brands. No financial terms were disclosed.
The announcement follows the acquisitions and merging of four collision repair centers including Car Crafter, Drury and Moss Body Shop, 1st Choice Collision and Helotes Collision.
Combined, the OpenRoad family of brands now operates 12 collision repair centers located across the Southwest.
OpenRoad’s initial investment was Car Crafters, a collision repair center in New Mexico.
Tom Csekme will serve as CEO of OpenRoad.
“The collision repair industry remains highly fragmented despite recent consolidation efforts by a few large industry players. We look forward to expanding the OpenRoad initiative by partnering with shop owners who desire to preserve their shop’s brand name and legacy, while not sacrificing repair quality or employee engagement,” said Logan Lowery, a vice presiden at LP First Capital, in a statement.
OpenRoad partners with and invests in leading collision repair centers across the United States.
Since its founding in 1981, Trivest has completed more than 400 investments, totaling approximately $7 billion in value. The firm has roughly $4 billion in assets under management.
LP First Capital is headquartered in Austin.