Crash Champions, LLC, one of the nation's largest independent collision repair MSOs with a leading presence in both the greater Midwest and Southern California markets, announced Oct. 7 the acquisition of Fountain Valley Bodyworks, Inc., the largest family owned MSO in Orange County, CA.
With the addition of Fountain Valley Bodyworks' two locations, Crash Champions now has 25 shops in Southern California.
Crash Champions is currently the fifth largest collision repair MSO, with 47 total locations across Illinois, Ohio, Wisconsin, Missouri and California.
Founded in 1974 by industry veteran Dave March, Fountain Valley Bodyworks is a trusted partner of regional and national insurance carriers and known for its commitment to quality service.
The company's highly regarded shops are operated by a veteran workforce responsible for generating more than $18 million of annual sales. Based on sales per square foot, these two locations rank among the highest-performing collision repair shops in the industry.
As part of the transaction, March will retain a meaningful ownership stake in the combined organization and remain an active member of its leadership team moving forward, alongside Director Michael March and General Manager Mike Honrath.
"After 45-plus years of building Fountain Valley Bodyworks into the powerhouse it is today, I knew our next chapter would involve partnering with a well-capitalized MSO positioned for meaningful near-term growth," said March. "Crash Champions is a brand on a mission. The leadership at Crash Champions and Fountain Valley Bodyworks have a shared vision for the company's go-forward strategy and our operational ethos could not be more aligned.
"I look forward to working with our new partners at Crash Champions to enhance our value proposition to our insurance carrier partners and drive meaningful market share gains in Southern California. This is a tremendous day for everyone at our company, and we are excited for what the future holds."
The acquisition of Fountain Valley Bodyworks is the sixth transaction completed by Crash Champions, and its second this year in the Southern California market. In March, Crash Champions completed its merger with Pacific Elite, the largest family owned operator of collision repair shops---23 total---in California.
Additional completed acquisitions this year include five shops in Missouri, three shops in Ohio and one shop in Wisconsin. The company plans to rebrand all its shops under the Crash Champions name by the end of this year.
"We entered 2020 with the goal of expanding our presence into the densely populated Southern California market through smart partnerships and acquisitions that fit with both our business model and culture," said Matt Ebert, founder and CEO of Crash Champions. "Over its near-50-year history, Dave and his team have built a reputation and track record of success that is not only unmatched in the market, but on a per shop basis has outperformed the entire U.S. collision repair industry.
"We're thrilled to bring this leading name into the Crash Champions family and look forward to leveraging Dave's experience and vision to continue our growth not only in Southern California, but across every market where we operate."
Fountain Valley Bodyworks was advised by B. Riley Securities, Inc. and Ferruzzo & Ferruzzo, LLP. Crash Champions was advised by Goodwin Procter, LLP. Terms of the deal were not disclosed.
Source: Crash Champions