Harris Williams & Co. Advises ABRA Auto Body & Glass on its Pending Sale to Hellman & Friedman

August 6, 2014

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the pending sale of ABRA Auto Body & Glass (ABRA), a portfolio company of Palladium Equity Partners, LLC (Palladium), to Hellman & Friedman LLC (H&F). ABRA is a recognized leader in collision repair, paintless dent removal, and auto glass repair and replacement. Harris Williams & Co. is serving as lead advisor on the transaction.  The transaction, which is anticipated to close in the third quarter of 2014 and is subject to customary closing conditions, is being led by Frank Mountcastle, Joe Conner, Jershon Jones, Chris Williams, and James O’Malley from the firm’s Transportation & Logistics (T&L) Group.

“Through its years of focus and dedication to operational excellence, ABRA has created one of the most prominent platforms in the collision repair industry, with an outstanding management team and an exceptional track record of growth.  Management and Palladium have done a tremendous job building a clear leader in the collision repair sector, and we are excited that they have found a partner in H&F to continue to execute their strategic growth plan,” said Frank Mountcastle, managing director in Harris Williams & Co.’s T&L Group.

 “The ABRA transaction marks an important milestone in the continued growth and expansion of our efforts in the sector.  Through partnerships with premier clients like ABRA, we have built the #1 middle market sell-side platform in the automotive aftermarket,” added Joe Conner, managing director in Harris Williams & Co.’s T&L Group. “The collision repair sector has received a tremendous amount of attention in the market due to its compelling long-term growth fundamentals, and we expect to continue to see investment activity in the sector for the foreseeable future.”

Founded in 1984, ABRA is a recognized leader in collision repair, paintless dent removal, and auto glass repair and replacement with 186 company-owned vehicle damage repair centers and 48 franchised centers in 19 states. ABRA distinguishes itself by providing a solution that enables its insurance company partners to substantially improve customer satisfaction and drive policyholder retention, while simultaneously reducing repair costs and driving efficiencies in the claims management process.

Palladium is a middle market private equity firm with over $2.5 billion in assets under management. Palladium seeks to acquire and grow companies in partnership with founders and experienced management teams, and focuses primarily on buyout equity investments in the range of $50 to $150 million. Since its founding in 1997, Palladium has invested over $1 billion of capital in more than 20 platform investments and over 50 add-on acquisitions. The principals of the firm have significant experience in financial services, business services, food, healthcare, industrial and media businesses, with a special focus on transitioning founder-owned businesses and investing in companies it believes will benefit from the growth in the U.S. Hispanic population. In April 2014, Palladium announced the final closing of Palladium Equity Partners IV, L.P. at $1.14 billion, significantly exceeding its target.  Palladium is based in New York City.

Hellman & Friedman LLC is a leading private equity investment firm with offices in San Francisco, New York, and London. Since its founding in 1984, H&F has raised and, through its affiliated funds, managed over $25 billion of committed capital. The firm focuses on investing in superior business franchises and serving as a value-added partner to management in select industries including insurance, energy and industrials, financial services, software, internet, digital and traditional media, business, marketing & information services, and healthcare.

Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide.  The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence.  Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

Harris Williams & Co.’s T&L Group serves companies in a broad range of attractive niches, including third-party logistics (3PL), surface transportation, airport and aviation services, transportation equipment and the automotive and heavy duty vehicle market.  For more information on the firm’s T&L Group and other recent transactions, visit the T&L Group’s section of the Harris Williams & Co. website.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorised and regulated by the Financial Conduct Authority.  Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.