Kinderhook Sells ProCare Collision to Classic Collision
NEW YORK, Sept. 20, 2021 /PRNewswire/ -- Kinderhook Industries, LLC ("Kinderhook"), announced today the sale of ProCare Collision ("ProCare" or the "Company") to Classic Collision ("Classic"). Financial terms of the transaction were not disclosed.
ProCare is a nationally recognized, state-of-the-art collision repair company that operates 45 auto body repair shops in the greater Austin, San Antonio, and Houston, Texas markets. Procare's commitment to provide exceptional quality collision repair and community involvement has cultivated a large base of loyal customers.
"We are thankful for our partnership with Kinderhook over the past five years. Kinderhook's financial support and expertise within the automotive industry helped Procare to achieve its strategic goals of building a scaled, regionally dense MSO in Southeastern Texas. Kinderhook is everything we could have wanted in a partner," said Vince Brock, CEO of Procare. "Procare is excited to begin the next phase of our growth as part of the Classic Collision family."
Michael Zoch, Managing Director at Kinderhook, stated, "We are thrilled with this result for Kinderhook and ProCare. It has been an honor to partner with Vince Brock, Scott Craig and the entire Procare team. We are proud of all that has been accomplished by ProCare and are confident that ProCare's success will continue with Classic Collision."
"Over the past five years, Procare has experienced tremendous growth, growing from eight shops to 45 shops and establishing a dense footprint in the fast-growing Austin, San Antonio, and Houston metro areas," said Paul Cifelli, Managing Director at Kinderhook. "Kinderhook's investment in ProCare highlights the key tenets of Kinderhook's investment strategy – partnering with world class management teams to aggressively grow businesses both organically and through add-on acquisition."
Kirkland & Ellis LLP served as legal counsel to ProCare and Henson & Efron, P.A. provided legal counsel to Classic in the transaction.
About Kinderhook Industries
Kinderhook Industries, LLC is a private investment firm that manages over $3.3 billion of committed capital. We have made in excess of 275 investments and follow-on acquisitions since inception. Kinderhook's investment philosophy is predicated on matching unique, growth-oriented investment opportunities with exceptional financial expertise and our proprietary network of operating partners. Our focus is on middle market businesses with defensible niche market positioning in the healthcare services, environmental / business services, and automotive / light manufacturing sectors. We have a track record of successfully and consistently building industry leaders.
For more information, please visit: www.kinderhook.com
About ProCare
ProCare operates 45 auto body repair shops in the greater Austin, San Antonio, and Houston, TX markets and is an authorized repair center for most major insurance companies. Headquartered in New Braunfels, TX, ProCare provides services including body repair, dent removal, glass installation, plastic reconstruction, towing, painting, paint removal, and rental car assistance.
For more information, please visit: https://www.procarecollision.com/
About Classic Collision
Classic Collision was established in 1983 in Atlanta, Georgia with a single goal: to offer quality service to its customers with integrity and honesty. Classic Collision does this by employing the best talent and using the highest-quality materials. Classic Collision is one of the largest privately held national providers of auto body repair services with 148 state-of-the-art repair facilities in 9 states across the U.S. For over 37 years, Classic Collision has put customer satisfaction first in all it does. Classic Collision is proud to provide high-quality auto body repairs with properly trained technicians and the appropriate equipment. Classic Collision holds numerous manufacturer certifications and factory-direct training which makes it a leader in comprehensive collision repair.
For more information, please visit: https://classiccollision.net/
SOURCE Kinderhook Industries
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