INSIGHT REPORT CALENDAR

NEWSLETTER

Like this article?

Sign up to our free newsletter

Boyd Group Income Fund closes acquisition of Assured Automotive

Boyd Group Income Fund has, through a subsidiary company, closed the acquisition of the assets and business of Assured Automotive Inc. and related entities which was previously announced on 29 May, 2017.

The total consideration for the transaction is approximately USD193.6 million, subject to closing and post-closing adjustments, and was funded through USD146.1 million in cash and USD47.5 million in Boyd Group Income Fund units priced at USD88.31 per unit. The acquisition is expected to be immediately accretive to the Fund’s earnings and distributable cash.
 
“The addition of Assured significantly increases our number of collision repair centres, and also provides us with an enhanced platform for growth,” says Brock Bulbuck, CEO of the Boyd Group. “We now have the leading position in the largest collision repair market in Canada, with further consolidation opportunities and experienced senior management with deep knowledge of the region. This, combined with our track record of new location growth, better positions us to meet our goal of doubling the size of the company by 2020, based on 2015 metrics.”
 

Like this article? Sign up to our free newsletter

FEATURED

Tech Stocks

MOST RECENT

FURTHER READING