CenterOak Partners (CenterOak), a Dallas-based private equity firm, has formed CollisionRight, a regional multi-shop operator of auto 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 have not been 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,” says 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,” says 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,” says 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.”
