The Boyd Group acquires 25 Collision Revision repair centers

The Boyd Group has acquired 25 collision repair centers from Collision Revision in Illinois, Indiana and Florida. The Body Group, also known as The Body Group Income Fund, signed a definitive agreement and concurrently closed the acquisition of Dora Holdings, LLC , which owns and operates Collision Revision.

Collision Revision generated sales of approximately $50 million for the 12 months ended Dec. 31, 2013, and the acquisition is expected to be immediately accretive to the Group's earnings and cash flow.

"We are very pleased to announce another multi-shop acquisition to further our geographic footprint," said Brock Bulbuck, President and Chief Executive Officer of the Boyd Group. "In addition to being immediately accretive to earnings, adding the Collision Revision locations gives Boyd a commanding presence in the greater Chicagoland market. This is our seventh major multi-shop acquisition since 2010 and reinforces our position as the largest multi-shop operator in North America, in terms of number of locations. This has strategic value for Boyd relative to trends within the collision repair industry that have seen insurance companies consolidating direct repair program volumes with fewer providers."

Of the 25 purchased locations, 15 are in the Chicago media market, including one in northwest Indiana. Collision Revision also has eight locations in the state of Illinois south of the Chicago market, including shops in the cities of Peoria, Bloomington and Springfield. The two other purchased locations are in Ft. Wayne, Indiana and Ft. Myers, Florida. With the acquisition of the 25 Collision Revision locations, Boyd will operate 288 collision repair locations across 15 U.S. states and five Canadian provinces.

The total purchase price consideration of approximately of $32.5 million, subject to working capital adjustments, will be funded through a combination of seller financing and use of Boyd's revolving credit facility.

About The Boyd Group Income Fund
The Boyd Group Income Fund (http://www.boydgroup.com) is an unincorporated, open-ended mutual fund trust created for the purposes of acquiring and holding certain investments, including a majority interest in The Boyd Group Inc. and its subsidiaries. The Units trade on the Toronto Stock Exchange (TSX) under the symbol BYD.UN.

About The Boyd Group Inc.
In terms of locations, The Boyd Group Inc. is the largest operator of non-franchised collision repair centers in North America and one of the largest in terms of sales. The Company operates locations in five Canadian provinces under the trade name Boyd Autobody & Glass (http://www.boydautobody.com), as well as in 15 U.S. states under the trade names Gerber Collision & Glass (http://www.gerbercollision.com) and Hansen Collision. The Company is also a major retail auto glass operator in the U.S. with locations across 28 U.S. states under the trade names Gerber Collision & Glass, Glass America, Auto Glass Services, Auto Glass Only, Auto Glass Authority, S&L Glass and Hansen Auto Glass. The Company also operates Gerber National Glass Services, an auto glass repair and replacement referral business with approximately 3,000 affiliated service providers throughout the U.S. under the "Gerber National Glass Services" name. For more information on The Boyd Group Inc. or Boyd Group Income Fund, please visit our website at (http://www.boydgroup.com).
 

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