CenterOak Partners Forms New Platform by Investing in Leading Collision Repair Company
November, 2020 – CenterOak Partners LLC (“CenterOak”), a Dallas-based private equity firm, today announced the formation of CollisionRight, Inc. (“CollisionRight” or the “Company”), a leading regional multi-shop operator of auto body repair services in the Central United States. CenterOak’s investment will provide capital to support the growth of the newly formed entity. Terms of the transaction were not disclosed.
CollisionRight, headquartered in Columbus, Ohio, provides auto body collision repair services through a recently established network of 20 facilities located in Ohio, Kentucky and Michigan. CollisionRight differentiates itself through a passion for quality repair work, backed by heavy investment in state-of-the-art equipment, facilities, technician training and auto manufacturer certifications. CollisionRight shops repair over 20,000 cars a year and maintain strong relationships with insurance carriers through participation in over 30 direct repair programs. Rich Harrison, an experienced automotive aftermarket executive and co-founder of former CenterOak portfolio company TruRoad, serves as CEO of CollisionRight.
“We developed an investment thesis around the essential nature and resilience of the auto aftermarket and the many ways that an operationally focused investor can drive performance improvement,” said Randall Fojtasek, CEO and a Managing Partner of CenterOak. “We are excited to partner with Rich Harrison again to create CollisionRight. This investment, which marks the first time institutional capital has been provided for the company, allows us to leverage our sector expertise and long-standing track record of building stronger companies in large, fragmented and growing industries like collision repair.”
“CollisionRight is entering an accelerated phase of growth and development that we are well-suited to support,” said Jason Sutherland, a Managing Partner with CenterOak. “We look forward to continue to scale the Company’s leading position in existing and adjacent markets and driving value for our customers, employees and vendor partners.”
“I am delighted to again join forces with CenterOak on this latest platform,” said Rich Harrison, CEO of CollisionRight. “Together we have built the team and the infrastructure to support significant growth while never losing sight of our core purpose: repairing your car right. Our shared vision is to establish CollisionRight as a leading provider of auto collision repair services in our key markets.”
Headquartered in Columbus, OH, CollisionRight is a leading regional provider of auto body collision repair services across the Central United States. CollisionRight shops repair over 20,000 cars a year and maintain strong relationships with insurance carriers through over 30 direct repair programs. CollisionRight differentiates itself through a passion for quality repair work, backed by heavy investment in state-of-the-art equipment, facilities, technician training and auto manufacturer certifications. The Company operates 20 locations throughout three states with plans to continue expansion. For more information, please visit www.CollisionRight.com.
About CenterOak Partners LLC
CenterOak Partners LLC is a private equity firm with a focus on making control-oriented investments in middle market companies organized or operating in the United States. The Firm specializes in three key industry sectors: Industrial Growth, Consumer, and Business Services. Based in Dallas, Texas, the investment and portfolio management team has a strong history of creating significant value through operational improvement. CenterOak and its Partners have managed over $2.2 billion of equity capital commitments and have completed over 100 acquisitions, representing over $4.8 billion in transaction value. For additional information, please visit www.centeroakpartners.com.