Convenient Brands Expands Portfolio with Acquisition of Web-Est Collision Estimating Software

Convenient Brands, a leading provider of enterprise software and payment processing services to the auto dealership and auto repair industries, has recently announced its acquisition of Web-Est, a prominent provider of collision estimating software to independent body shops in the U.S. This strategic move is expected to offer customers a more comprehensive software package while driving market share for Web-Est.

The Role of Collision Estimating Software in Auto Body Shops

When it comes to auto repairs, cost estimation plays a crucial role in the decision-making process for both customers and insurance carriers. Most auto body shops utilize software to estimate the cost of parts and labor required for a repair job, which helps them obtain approval from both parties involved. In this context, Web-Est has established itself as a leading provider of collision estimating software, catering specifically to independent body shops.

Web-Est's Innovative Estimating Software Platform

Web-Est offers a user-friendly, browser-based estimating software platform that provides a seamless experience for users. The platform boasts multiple proprietary tools that enhance efficiency and estimating accuracy. One of the highlights is ProAdvisor, an AI-guided tool that auto-populates vehicle data for estimators, saving them time and effort. Additionally, Image Editor, a photo editor integrated into the software, allows users to notate, highlight, crop, and zoom photos of damaged vehicles, providing a clearer estimate.

The Acquisition and Its Benefits

Convenient Brands' acquisition of Web-Est aligns with their commitment to offering comprehensive solutions to independent body shops. The company's existing shop management software and payment processing tools will be complemented by Web-Est's estimating software, creating a more holistic software package. This acquisition is expected to accelerate Web-Est's growth trajectory while offering customers increased automation and efficiency.

James Clippard, Chairman of Convenient Brands and Managing Director of The Beekman Group, commented on the acquisition, expressing his congratulations to Eric Seidel, Carey Paris, and the Web-Est team for their strong momentum in the marketplace. Clippard also emphasized the importance of Web-Est's software in automating critical functions for independent body shops. He looks forward to working with Carey Paris and his team to drive market share and offer a more complete software package to the industry.

Eric Seidel, CEO of Web-Est, expressed his enthusiasm regarding the acquisition, emphasizing Web-Est's commitment to providing accurate and high-value estimating solutions to independent repair shops. With the support of Convenient Brands, Seidel believes that Web-Est is well-positioned to accelerate its growth and offer a larger range of solutions to customers.

About Convenient Brands

Convenient Brands is a platform of business technology companies specializing in enterprise software and payment processing services. While its primary focus lies in serving the auto dealership and auto aftermarket industries, Convenient Brands also caters to customers in diversified sectors such as government and property management. The company is headquartered in Draper, Utah, and is a portfolio company of The Beekman Group, a New York-based private investment firm.

About Web-Est

Web-Est, LLC is a renowned provider of collision estimation software specifically designed for independent auto body shops in the United States. Its user-friendly software enables body shops to complete repair estimates efficiently and cost-effectively.

About The Beekman Group

The Beekman Group is a private equity firm located in New York City. Specializing in the healthcare, consumer, and business services sectors, Beekman partners with management teams to create industry-leading companies through organic growth and strategic acquisitions. With over $1 billion in assets under management, Beekman has completed over 200 transactions since its inception.

Conclusion

Convenient Brands' acquisition of Web-Est has solidified its position as a leading provider of enterprise software and payment processing services in the auto industry. By integrating Web-Est's collision estimating software into its existing suite of products, Convenient Brands aims to offer independent body shops a comprehensive software package that enhances efficiency, accuracy, and automation. This strategic move showcases Convenient Brands' commitment to innovation and customer-centric solutions, ensuring continued growth and success in the marketplace.