![]() Neither company actually needed to merge, Grimshaw said. (Caliber had averaged adding more than 100 locations a year for five years, and it posted company-record metrics across the board in 2016 - and then set new records in 20, he said.) Internal discussions prior to the merger noted ABRA was a great company that led in many client metrics, and Caliber had been a success as well, according to Grimshaw. ![]() Such a scenario had “nothing to do with this merger whatsoever,” Grimshaw said. Merging to produce synergy is one of the plays you’ve got left to eke out more value, he said. He noted that in most industries, two of the largest competitors merging often means the industry is slowing down or has little growth opportunity. “Finally, one of the rumors about the MSOs merging came true,” Grimshaw joked Friday. Caliber’s old owners will still keep minority shares in the new company. Though the new company will be called Caliber Collision and led by Grimshaw, ABRA parent company Hellman & Friedman actually bought Caliber from Leonard Green Partners and OMERS Private Equity. His comments to the International Bodyshop Industry Symposium came a day after Penfund revealed it and other investors provided at least $2.75 billion in potential capital which could be tapped to pay for the merger. Caliber Collision CEO Steve Grimshaw on Friday described the thinking behind the monumental Caliber-ABRA merger and what the marketplace could expect going forward.
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