The acquisition marks the 22nd and 23rd shops owned by Puget Collision throughout Washington and Oregon
Edmonds, Wash.—CARSTAR Collision Clinic in Edmonds and Bellevue, Wash., have been acquired by Puget Collision. The transaction represented a successful exit for owner Bruce Lingle, who started in the industry as a technician and later built his MSO for over 44 years in the Edmonds market. The sale was facilitated by M&A firm Focus Advisors.
“After spending my career in the collision industry, I knew it was time for me to step back and enjoy spending more time with my wife, family, and traveling,” Lingle said. “From the start, Dave Roberts, Chris Lane and the whole Focus Advisors team worked hard on my behalf. They kept the process super confidential and super organized along the way. With multiple bidders, I’m confident I received the best value for my business.”
Managing Director David Roberts of Focus Advisors commented, “Bruce has built a great business and established himself as a leading MSO in the Seattle region. Our Focus Advisors team is proud to have helped Bruce in realizing the value of what he has spent his career building.”
The acquisition of CARSTAR Collision Clinic marks the 22nd and 23rd shops owned by Puget Collision throughout Washington and Oregon, which is backed by private equity firm, Eagle Merchant Partners. CEO Joe Morella stated, “We are pleased to have Bruce’s shops join our Puget team as we continue our regional growth strategy.”
Chris Lane, principal at Focus Advisors, commented that “Bruce’s transaction is representative of the continuing opportunity for owners to realize liquidity events at attractive valuations. And for private equity backed regional consolidators to pursue their rapid growth strategies.”
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