Since its formation in 2020, CollisionRight’s network has expanded to more than 85 repair centers across nine states
Dallas—CenterOak Partners LLC, a Dallas-based private equity firm, announced on Tuesday the sale of CollisionRight, Inc., of auto body repair services, to Summit Partners. This marks the third exit in the auto aftermarket for CenterOak. Terms of the transaction were not disclosed.
Since its formation in 2020, CollisionRight’s network has expanded to more than 85 repair centers across nine states. CollisionRight generates approximately 90% of its revenue through insurance carriers and repairs more than 90,000 combustion engine and electric vehicles per year in the mass and luxury markets.
“During CenterOak’s investment, CollisionRight grew revenue six-fold and became the sixth largest collision repair operator in the U.S.,” said Jason Sutherland, a Managing Partner of CenterOak. “We have a history of developing investment themes and partnering with founders and talented executives to provide first time institutional capital. Alongside management, we invested in the team, operating systems, and growth, and have built a scaled provider with a market leading service offering.”
“We have had tremendous success partnering with CenterOak,” said Rich Harrison, CEO of CollisionRight. “Together we executed a growth strategy that allowed us to quadruple our shop count and grow our direct repair program relationships with leading insurance carriers. We’re excited to continue our mission to provide customers with an excellent auto repair experience.”
Comments are closed.