Trive Capital has acquired Chilton Auto Body, a California-based collision repair platform operating 20 auto body repair shops.
Chilton Auto Body’s services include structural damage repair, bumper repair, aluminum welding, paint and refinishing, calibration, light cosmetic repairs, and paintless dent removal. The company specializes in electric vehicle (EV) repairs, servicing brands such as Tesla, Rivian, and Lucid, and was the first Tesla-certified body shop in the U.S.
Founded in 1969 by Charles Chilton in San Mateo, California, the company expanded under the leadership of Mike Chilton (the founder’s son), who joined in 1984. Starting in 2003, Chilton grew its operations through brownfield expansions and acquisitions, establishing itself in the Bay Area and Los Angeles markets. Today, Chilton operates 20 locations throughout the Bay Area and Los Angeles and is headquartered in San Carlos, California.
“Today’s announcement marks a pivotal moment for our company and is a testament to the commitment and strength of our team, our track record for quality and timely repairs, and our relentless focus on providing an industry-leading customer experience,” said Mike Chilton. “We are thrilled to partner with Trive as we launch this new phase of growth while enhancing support for our valued insurance carrier partners and creating new opportunities for our talented team members.”
“The Chilton leadership team has an exceptional track record of growing its footprint and scale, performing to key scorecard metrics, and delivering quality customer service, all while maintaining industry-leading capabilities and EV repair expertise,” said Jared Reyes, a managing director at Trive Capital. “We are excited to partner with Mike and the executive team as they look to bring Chilton’s exceptional service and capabilities to new and adjacent geographies via M&A and new brownfield locations.”
The auto collision repair industry is undergoing transformation as vehicles become more technologically complex, particularly with the rise of EVs. “The collision repair industry continues to demonstrate attractive fundamentals,” said Chris Zugaro, a partner at Trive Capital. “Furthermore, the growing complexity of vehicles and further adoption of EVs together present an attractive market opportunity for players with leading capabilities, state-of-the-art equipment, and highly experienced technicians. Chilton’s history and reputation position them well to capitalize on these trends, and we look forward to partnering with them in this next chapter of growth.”
Trive Capital invests between $10 million and $250 million of debt and equity in North America-headquartered companies with revenues ranging from $40 million to $1.5 billion. Trive is industry-agnostic but has specific experience in aerospace and defense, automotive, building products, business services, chemicals, and consumer goods.
In April 2022, Trive held final closings of two new funds, Trive Capital Fund IV LP and Structured Capital Fund I LP, with an aggregate $1.95 billion in capital commitments. Trive was founded in 2012 by Managing Partner Conner Searcy and Partner Chris Zugaro and is headquartered in Dallas.
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