GO FOR GLASS
Driven Brands announced the expansion of its auto glass offering into the United States with its acquisition of Auto Glass Now (AGN). The company acquired AGN for approximately US$170 million on December 30, 2021. The acquisition makes Driven Brands one of largest auto glass service providers in North America, said the company in its press release. AGN will be reported in Driven Brands’ Paint, Collision, and Glass segment, adding over 75 companyoperated locations. Fiscal 2021 revenue for AGN is expected to be approximately US$85 million, and the business generates EBITDA margins of approximately 25 percent. Driven Brands first entered the glass business in Canada in 2019 and now operates over 300 glass locations in both the United States and Canada. According to Driven Brands, AGN has more than 20 years of experience in auto glass repair, replacement and calibration with more than 75 locations across the United States.
“Glass repairs are growing as a percentage of auto repairs and repair complexity is increasing due to the necessary calibration,” said Michael Macaluso, EVP of Driven Brands and Group President, Paint, Collision, and Glass. “Glass presents another exciting opportunity to leverage our proven playbook of consistent and repeatable growth to continue capturing market share.”
TESLA TOPS IT OFF
Tesla was quite outspoken in 2021 regarding its million-vehicle delivery goal but, came just short of its mark. The electric vehicle manufacturer reported it delivered 936,172 vehicles in 2021—an 87 percent increase from last year. It delivered 308,000 of those cars amid Q4 2021, marking a 71 percent increase in Q4 deliveries from last year’s fourth-quarter. According to the release, the majority of vehicles delivered in Q4 were Model 3 sedans and Model Y hatchbacks. Wall Street analysts had anticipated about 266,000 vehicles to be delivered in Q4 2021, with about 855,000 predicted for the year.
This multi-year agreement will also see the company present the PPG Presents Armed Forces Qualifying from May 21-22, as part of the Indianapolis 500 qualifying weekend
PPG SETS THE PACE
PPG has yet again been named official paint and finishing supplier of the Indianapolis Motor Speedway (IMS) and the NTT INDYCAR SERIES. “PPG paints, coatings and specialty materials have been used throughout racing for decades, and now to have them be part of the future INDYCAR SERIES and IMS experience is an exciting opportunity. Our company’s purpose is to protect and beautify the world, and this partnership will provide opportunities to bring this to life in new and colourful ways.”
IN WITH INSPECTORS
Repairify has announced a partnership with One Guard Inspections, a Texas-based vehicle inspection company. One Guard Inspections was founded by Bryan Bledsoe II in 2012 and has grown into what Repairify considers the most advanced and streamlined vehicle inspection process on the market. Repairify president and chief business development officer, Tony Rimas, said “We are excited for Bryan Bledsoe II, founder and president of One Guard, and his entire team to join us. Bryan’s leadership ability, as well as his team’s insights and expertise, are highly valued additions to the Repairify team.
HIT THE BOOKS
SEMA launched a new online education library to provide the automotive aftermarket with easy and affordable year-round access to experts and leaders. The organization said the new SEMA Virtual Education Portal at sema.org/ education includes a comprehensive collection of educational webinars and resources targeted to the automotive aftermarket. From technical details about advanced driver-assistance systems (ADAS) and legislative and advocacy updates to best practices and tips on common business skills and behind-the-scenes conversations with industry leaders, celebrities and icons, the new SEMA Virtual Education Portal at sema.org/education includes a comprehensive collection of educational webinars and resources targeted to the automotive aftermarket.
Employees of SEMA-member companies will have the distinct advantage of being able to access most education at no cost or at a discount, but all sessions are available regardless of SEMA membership status. SEMA Show education is free to everyone. New users will need to create a free individual user profile and log on to the system.
