OMERS Private Equity has acquired Caliber Collision Centers from private equity firm ONCAP, Onex Corporation’s mid-market private equity platform.
Caliber is a provider of automotive collision repair services with a network of 157 collision centers located in California, Texas, Arizona, Nevada, Oklahoma and Colorado. The company has approximately 3,700 employees and repairs more than 285,000 vehicles annually. Caliber is headquartered in Dallas (www.calibercollision.com).
“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 OPE. “We believe that Caliber will continue to distinguish itself as the market leader in the highly fragmented collision repair industry in the years ahead.”
OMERS Private Equity manages the private equity activities of OMERS, one of Canada’s largest pension funds. The group’s investment strategy includes the active ownership of businesses in North America and Europe. Sectors of interest include manufacturing, financial and business services, industrial and consumer products, transportation, and technology. Investment sizes range from $100 million to $500 million. The firm is located in Toronto with offices in New York and London and has $6 billion of investments under management (www.omerspe.com).
Onex Corporation makes private equity investments through the Onex Partners and the ONCAP families of funds. Onex has more than $16 billion of assets under management and is based in Toronto with additional offices in New York and London (www.onex.com).
BB&T Capital Markets served as financial advisor to Caliber and ONCAP in the transaction. The sale of Caliber represents BB&T Capital Markets’ fifth sale of a major collision repair chain in the last five years.
© 2013 PEPD • Private Equity’s Leading News Magazine • 11-22-13
