[vc_row][vc_column][vc_column_text]CORAL GABLES, Fla. and AUSTIN, Texas, Sept. 6, 2022 /PRNewswire/ — Trivest Partners (Miami, FL) and LP First Capital (Austin, TX) announced today the formation of OpenRoad, a family of leading brands within the collision repair industry. The announcement comes in combination with the acquisitions of four well-known collision repair centers including Car Crafters (Albuquerque, NM), Drury and Moss Body Shop (Amarillo, TX), 1st Choice Collision (Houston, TX), and Helotes Collision (Helotes, TX). Combined, the OpenRoad family of brands now operates 12 collision repair centers located across the Southwest.
OpenRoad’s initial investment was Car Crafters, the largest independent collision repair center in the state of New Mexico. Across its five locations in Albuquerque and Rio Rancho, Car Crafters maintains strong relationships with all major insurance carriers and repairs more automobiles than any other shop in the state. Car Crafters is led by industry veterans Jim and Sean Guthrie, who will remain with the shop and continue to lead strategic and operational initiatives.
“For more than 40 years, Car Crafters has been known for quality repairs, excellent technician training, superior employee benefits, and stellar shop culture. Partnering with Trivest and LP First Capital will allow us to build upon this reputation, and their collective financial, operating, and strategic resources will enable us to expand across the greater Southwest while maintaining the Car Crafters culture and commitment to quality,” said Jim Guthrie, Founder of Car Crafters and OpenRoad Chairman.
Led by industry veteran Tom Csekme, who will serve as Chief Executive Officer, OpenRoad is currently pursuing strategic acquisitions of leading collision repair centers across the United States.
“The collision repair industry remains highly fragmented despite recent consolidation efforts by a few large industry players. We look forward to expanding the OpenRoad initiative by partnering with shop owners who desire to preserve their shop’s brand name and legacy, while not sacrificing repair quality or employee engagement,” said Logan Lowery, Vice President at LP First Capital.
“OpenRoad is perfectly aligned with Trivest’s strategy to partner with growing founder and family-owned businesses in fragmented markets. We believe we can leverage our experience in the automotive aftermarket space and with other buy and build success stories to help OpenRoad become one of the largest players in the collision repair industry,” added Reid Callaway, Principal at Trivest.
To learn more about OpenRoad, please visit OpenRoadCollision.com
OpenRoad partners with and invests in leading collision repair centers across the United States. OpenRoad believes that quality repairs, excellent technician training, shop culture and a passionate employee base are the gears that create a best-in-class collision center. OpenRoad is currently pursuing additional acquisitions of leading collision repair centers across the United States. openroadcollision.com
Trivest Partners, with offices in Miami, Charlotte, Chicago, Los Angeles, Philadelphia, and Toronto, is a private investment firm that focuses exclusively on the support and growth of founder-led and family-owned businesses in the U.S. and Canada, in both control and non-control transactions. Since its founding in 1981, Trivest has completed more than 400 investments, totaling approximately $7 billion in value. The firm has roughly $4 billion in assets under management, with a growing team of over 60 professionals. Trivest is one of only 15 firms recognized by Inc. Magazine as one of the top founder-friendly private equity firms in three consecutive years. trivest.com
LP First Capital is a private investment firm with experience creating super-regional and national platforms by leveraging its expertise in mergers & acquisitions, profit center integration, and team building to drive performance. Headquartered in Austin, TX, LP First Capital maintains an active presence in much of the Southwest, Southeast, and Midwest markets as it continues to take interest in building best-in-class businesses within traditionally fragmented industries. lpfirstcapital.com
SOURCE LP First Capital[/vc_column_text][/vc_column][/vc_row]