Focus Advisors announced the sale of CARSTAR Collision Clinic in Edmonds and Bellevue, WA, to Puget Collision.
The transaction represented a successful exit for owner Bruce Lingle, who started in the industry as a technician and later built his highly successful MSO for more than 44 years in the Edmonds market.
“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,” said Lingle. “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.”
“Bruce has built a great business and established himself as a leading MSO in the Seattle region," said Roberts, managing director of Focus Advisors. "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, backed by private equity firm Eagle Merchant Partners.
“We are pleased to have Bruce’s shops join our Puget team as we continue our regional growth strategy,” said CEO Joe Morella.
“Bruce’s transaction is representative of the continuing opportunity for owners to realize liquidity events at attractive valuations," said Lane, principal at Focus Advisors. "And for private equity-backed regional consolidators to pursue their rapid growth strategies.”
Source: Focus Advisors
