The Future of Auto Body Repair: CollisionRight, the 6th Largest Operator in the U.S., Announces Sale to Summit Partners

Auto body repair services are vital for keeping our vehicles in top shape. When accidents happen, it's important to have reliable and skilled professionals who can restore our cars to their pre-damage condition. One company that has been at the forefront of the collision repair industry is CollisionRight, Inc. Recently, Dallas-based private equity firm CenterOak Partners LLC announced the sale of CollisionRight to Summit Partners, marking the third successful exit in the auto aftermarket for CenterOak.

Since its formation in 2020, CollisionRight has steadily expanded its network to more than 85 repair centers across nine states. The company has established itself as a leading provider of auto body repair services, specializing in both combustion engine and electric vehicles. CollisionRight has become the 6th largest collision repair operator in the United States, generating approximately 90% of its revenue through insurance carriers. Every year, the company repairs over 90,000 vehicles, serving both the mass and luxury markets.

CenterOak's investment in CollisionRight has been instrumental in the company's growth and success. Under CenterOak's stewardship, CollisionRight's revenue has grown six-fold, transforming it into a scaled provider with a market-leading service offering. CenterOak has a proven track record of partnering with founders and talented executives to provide first-time institutional capital. Together with CollisionRight's management team, they invested in building a strong organization, enhancing operating systems, and fostering growth.

The collaboration between CenterOak and CollisionRight has yielded impressive results. CEO of CollisionRight, Mr. Harrison, expressed his satisfaction with the partnership and their shared accomplishments. With CenterOak's support, CollisionRight was able to quadruple its shop count and establish valuable relationships with leading insurance carriers through its direct repair program. Their growth strategy has positioned the company for continued success and an unwavering commitment to providing customers with an excellent auto repair experience.

The transaction was facilitated by Jefferies LLC, serving as the lead financial advisor, and Stifel, Nicolaus & Company, who provided financial advice to CollisionRight. Legal counsel for the company was provided by Gibson, Dunn & Crutcher LLP.

CollisionRight, headquartered in Columbus, Ohio, has solidified its reputation as a leading regional provider of auto body collision repair services. Operating in nine states, including Illinois, Indiana, Kentucky, Maryland, Michigan, Ohio, Pennsylvania, Tennessee, and West Virginia, the company stands out with its dedication to quality repair work. CollisionRight's commitment to excellence is evident in its heavy investment in state-of-the-art equipment, facilities, and technician training, as well as its auto manufacturer certifications. With over 100 direct repair programs with insurance carriers, CollisionRight maintains strong relationships that account for approximately 90% of the company's sales.

CenterOak Partners LLC, the private equity firm behind this successful partnership, focuses on control-oriented investments in middle-market companies operating in the United States. The firm has a strong track record of creating significant value through operational improvements. With $2.5 billion of equity capital commitments and over 150 completed transactions representing more than $8 billion in value, CenterOak and its partners are well-positioned to drive growth and success.

The sale of CollisionRight to Summit Partners signals an exciting chapter for the company and the future of the auto body repair industry. As technology advances and vehicles become more complex, CollisionRight's expertise and commitment to quality will play a crucial role in ensuring that our cars are safe and restored to their pre-damage condition. With the continued support of CenterOak and the resources provided by Summit Partners, CollisionRight is poised to further solidify its position as a leader in the collision repair industry.

For more information about CollisionRight and the services they offer, please visit their website at www.CollisionRight.com. To learn more about CenterOak Partners LLC and their investment strategies, visit www.centeroakpartners.com.