Boyd Group Acquires Assured Automotive
In June, the Boyd Group income fund completed the acquisition of Assured Automotive for the sum of 193.6 million dollars. With its 68 locations, Ontario-based Assured Automotive is now the largest non-franchised network of collision repair facilities in Canada.
Following this acquisition, the Boyd network now boasts 100 Canadian locations and 474 North-American facilities overall. Assured Automotive will continue its operations under the current nomenclature, and will continue to be led by CEO Desmond D’Silva while Assured President Tony Canade will join the Boyd management team.
“The Assured acquisition is a significant strategic development for Boyd, as it has now positioned us as the collision repair market leader in both Canada and North America,” explained Boyd Group CEO, Brock Bulbuck in a recent press release.
“Assured has a solid management team in place, a well-established culture of operational excellence, strong sales growth and a commitment in offering outstanding customer service that complements our current value proposition while helping us increase our ability to deliver value to both customers and insurance partners, which in turn benefits our shareholders,” emphasized Brock Bulbuck
“We look forward to joining the Boyd Group as team members, as well as being important contributors to the success of the company,” affirmed Desmond D’Silva. “The combination of our respective companies, which are both market leaders, represents a strategic positioning that creates an irresistible force as a market leader able to expand and deliver innovative, superior quality service, to vehicle owners and insurance partners across all of North America.”