Winnipeg, Manitoba — November 9, 2016 — The Boyd Group continues its expansion drive with new acquisitions in Louisiana and Michigan. To date, the Boyd Group has acquired 55 autobody operations since the start of 2016.
The company’s record year for acquisitions was 2014, with the addition of 61 locations to the group. The company may be on track to beat that record this year, depending on how things play out in between now and the end of December.
The acquisition in Louisiana is a single facility located in Baton Rouge, about nine miles from the Boyd Group shop already operating in that city. The Michigan acquisition, however, is of a multi-store operation consisting of five body shops located in the Detroit area. The centres previously operated as Adrian’s Collision Centers. All of the newly acquired centres will operate under the Gerber Collision & Glass name.
“We are excited to be expanding our presence in the Detroit region, a large market with a population of over four million,” said Tim O’Day, President and COO of the Boyd Group’s US operations. “Our new locations in Dearborn, Farmington Hills, Marysville, Northville and Southfield complement our 14 other centres in the Detroit area and provide us with more options to better serve our customers and insurance partners.”
The Boyd Group has also released its Q3 numbers. In brief, the company has seen an increase in sales of 14.7 percent to $345.3 million from $301.1 million in 2015. This includes same-store sales increases of 4.7 percent. Sales to date in 2016 total $1,026,670,000.
“With 55 new locations added so far this year, along with healthy organic growth, we are confident that we are on track to achieve our long-term goals,” said Brock Bulbuck, CEO of the Boyd Group in an official statement. “Going forward, we expect that our prudent and disciplined approach will continue to deliver positive results, supported by our strong balance sheet, which has about $340 million in dry powder available to act on opportunities.”
For more information, please visit boydgroup.com.
