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Crash Champions Lands Investment; To Combine With Service King

Crash Champions has announced an agreement to receive a growth investment from the Clearlake Capital Group and to simultaneously execute a strategic transaction with Service King Collision. Terms of the transaction — which are subject to customary closing conditions, including regulatory clearances — were not disclosed.

The deal calls for Crash Champions’ management team and operating partners, alongside Clearlake, to lead the combined company.

Following closing and integration, the combined company will operate more than 550 total shops across 35 states (including the District of Columbia) under the Crash Champions name and banner.

Crash Champions currently has over 200 collision repair facilities across 20 states, while Service King has more than 330 locations spanning 24 states. According to Crash Champions, the combined company would have highly complementary geographic footprints with limited overlap.

Additionally, during the post-closing integration activities, both Crash Champions and Service King will continue operating at all service centers nationwide without interruption.

This all comes about a month after affiliates of Clearlake announced plans to assume majority ownership of Service King.

In an announcement dated July 14, Jose Feliciano, co-founder and managing partner of Clearlake, and Colin Leonard, partner, said: “This investment was driven by our thematic-based approach to investing in the automotive aftermarket and our specific identification of the collision repair sector as an ecosystem at a historical inflection point.”

Santa Monica, CA-based Clearlake has been active in the aftermarket this year, having also announced deals to acquire BBB Industries and Transamerican Auto Parts.

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