CollisionRight Receives Investment from Summit Partners
CollisionRight, a Dublin, OH-based provider of automotive collision repair shops in the United States, received an investment from Summit Partners.
The amount of the deal was not disclosed. John Carroll, a Managing Director at Summit Partners, will join Rich Harrison on the company’s Board of Directors. Robert Grady, an Advisory Partner at Summit, will also join the Board.
The company intends to use the funds to expand its growth plan, which is focused on acquiring and operating collision repair shops across the Central United States and Mid-Atlantic regions.
Led by Founder and CEO Rich Harrison, CollisionRight is a provider of automotive collision repair services through a network of 89 facilities across nine states including Illinois, Indiana, Kentucky, Maryland, Michigan, Ohio, Pennsylvania, Tennessee and West Virginia. The company’s repair work is backed by investment in equipment, facilities, technician training and auto manufacturer certifications. CollisionRight shops repair over 90,000 cars per year and maintain over 100 direct repair programs with insurance carriers. It maintains relationships with insurance carriers, who generate approximately 90% of the company’s sales.
Commenting on the news, Rich Harrison said: “Summit’s growth focus and commitment to operational excellence align with our desire to continue to partner with the country’s best shop operators and provide the driving public with timely and high-quality repairs. Our goal is to create an industry leader that will set the standard for growth, excellence and customer service. We are confident that partnering with Summit will help us to achieve that goal.”
FinSMEs
30/01/2024
