Caliber Collision Centers and Abra Auto Body Repair of America have closed on their merger, which unites the companies’ teams, brands and operations across 37 states and the District of Columbia. The new combined company will have more than 1,000 shops and operate under the Caliber brand name. Steve Grimshaw, Caliber’s CEO, who now serves as the chief executive of the combined company, said management plans on maintaining all existing shops from both companies.
Terms of the transaction were not disclosed. Private equity firm Hellman & Friedman, Abra’s majority shareholder since 2014, is the majority shareholder of the combined company. Caliber’s two largest shareholders, OMERS and Leonard Green & Partners (LGP), are minority shareholders in the combined company.
Bank of America Merrill Lynch and Deutsche Bank Securities Inc. were financial advisor to Hellman & Friedman. Simpson Thacher & Bartlett LLP provided legal counsel to Hellman & Friedman and Abra.
Jefferies LLC was a financial advisor to both OMERS and LGP. Fried, Frank, Harris, Shriver & Jacobson LLP provided legal counsel to OMERS and Caliber. Latham & Watkins LLP provided legal counsel to LGP.