Incline Equity Partners has acquired Certified Collision Group (CCG), a provider of support services to the collision repair and auto insurance sector.
Reno, Nevada-headquartered CCG was founded in 2014 by Luis Alonso to help local and independent collision shops compete against national chains. Today, CCG provides more than 740 independent collision repair shops with business development, vendor management (the company maintains 55 strategic vendor partnerships), and insurance certifications (CCG repair shops are preferred auto body shops for major insurance providers). CCG’s network of collision repair shops allows its members to offer auto insurers and fleet management companies nationwide coverage.
With the close of the transactions, CCG is promoting current COO Marty Evans to CEO and current Chief of Staff Chris Chase to COO.
“Our pledge to improve the competitive position of independent certified collision repairers through revenue growth and scale-based cost management is the foundation of our business,” said Mr. Evans. “With Incline, we can accelerate the growth of our service offerings and value proposition while exploring other segments of the automotive aftermarket. We are excited to partner with Incline to navigate our next growth phase.”
“Teaming with CCG to empower independent collision repairers is a compelling opportunity,” said Tom Ritchie, a partner at Incline. “The company has done a phenomenal job of driving cost savings and revenue opportunities to its affiliates while building a recurring, subscription-like business model. We look forward to partnering with CCG to further invest in growing its service offering and affiliate base.”
Pittsburgh-based Incline Equity was formed in 2011 and is led by its senior partners, Jack Glover, Justin Bertram, and Leon Rubinov. In January 2020, Incline closed its fifth fund, Incline Equity Partners V LP, with $1.2 billion of capital. Incline generally invests in growing companies with enterprise values of $25 million to $750 million.
Twin Brook was the administrative agent on debt financing to support Incline’s buy of CCG. Chicago-based Twin Brook focuses on loans to private equity-owned companies with EBITDA between $3 million and $50 million, with an emphasis on companies with $25 million of EBITDA and below. The firm targets senior financing opportunities up to $200 million, with hold sizes across the platform ranging from $25 million up to $150 million. Twin Brook’s products include opportunistic investments in second lien, mezzanine, and equity co-investments.
© 2022 Private Equity Professional | June 17, 2022
