AutoCanada adds to collision repair footprint in Metro Vancouver
Image courtesy of AutoCanada.
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The new-look AutoCanada continues to develop.
After announcing last week its board would conduct a strategic review of the company’s collision operations, the retailer said Thursday that it has completed its purchase of two Colorworks Autobody collision repair enters in British Columbia.
The facilities are in Coquitlam and Port Coquitlam.
AutoCanada also announced that it has brought on TD Securities Inc. as its exclusive financial advisor for the review of the collision operations.
The acquired facilities add to the density of the company’s collision repair network in the Vancouver area, AutoCanada said, adding that it expects the facilities, “to support operational efficiencies, strengthen customer service and position the Company to capture additional repair demand in the surrounding communities.”
They are located about 20 kilometers of ACX Ridge Meadows. They combine to add roughly 12,100 square feet of capacity and collectively hold certifications covering Volvo, Nissan, Kia, Hyundai, Honda, Acura, Genesis, Ford, Stellantis, and Toyota, AutoCanada said.
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The acquired facilities have Tier 1 status with the Insurance Corporation of British Columbia, as well.
They will be renamed ACX Coquitlam and ACX PoCo.
“The Coquitlam and Port Coquitlam locations complement our existing footprint and create a more connected collision repair platform across Metro Vancouver,” AutoCanada CEO Samuel Cochrane said in a news release.
“Over the past 12 months, we have acquired nine collision centers, expanding our network by more than 20% and creating further opportunities for operational synergies and growth,” he said. “Our collision business combines a scaled platform with proven acquisition capabilities, positioning it to capitalize on the significant consolidation opportunity in Canada. Our strategic review will explore how best to enable the business to reach its full potential, accelerate growth and unlock shareholder value.”