ATLANTA & NEW YORK--(BUSINESS WIRE)--Classic Collision, Inc. (“Classic” or the “Company”), an Atlanta-based leading multi-site operator (“MSO”) of 34 collision repair facilities in the Southeastern U.S., announced today that it has partnered with New York-based New Mountain Capital, a leading growth-oriented investment firm with over $20 billion in assets under management. Terms of the transaction were not disclosed.
Founded in 1983 and headquartered near Atlanta, Georgia, Classic is currently the fifth largest MSO in the industry and the largest operator of collision repair facilities in the Greater Atlanta market. Classic is a family-owned and operated business that has a long history of steadily expanding its footprint through new store openings. In mid-2019, the Company recruited Toan Nguyen as CEO to assemble a team to execute an accelerated acquisition strategy in the highly fragmented collision repair market and modernize the space with a technology-enabled approach. As part of the transaction, Classic’s founder and management team will remain invested in the Company.
"We are excited to partner with Classic as the Company accelerates its growth, builds a national presence and continues to deliver outstanding customer experiences," said Mat Lori, Senior Advisor at New Mountain Capital. "Led by its world-class team that brings more than 20 years of experience in the space, we see many avenues for growth ahead at Classic, and we look forward to providing additional resources to help the Company realize its full potential."
“Through its history of strong execution, Classic has successfully established itself as a leading MSO,” said Robert Mulcare, Managing Director at New Mountain Capital. “We look forward to working closely alongside Toan and his team to help unlock strategic opportunities to build upon Classic’s current momentum and drive continued growth in this attractive market.”
“The investment by New Mountain sets the stage for the acceleration of organic and acquisition-based growth at Classic,” said Toan Nguyen, CEO of Classic. “We are confident that New Mountain's proven track record of building businesses and supporting management teams through close strategic engagement will help us accelerate the execution of our core strategies. We look forward to our partnership and the benefits it will yield for our customers, employees and industry partners.”
About Classic Collision
Classic Collision was founded in 1983 in Atlanta, Georgia, with one goal: to serve customers with honesty and integrity while using the best talent and highest-quality materials. Today, Classic Collision continues to remain the largest privately held local provider of auto body repair services in northern and central Georgia, along with a presence in Birmingham, Augusta, and South Florida. Classic Collision operates locations in four states across the U.S. with 34 state-of-the-art repair facilities. For over 35 years, Classic Collision has put customer satisfaction first in all we do. We are proud to provide high-quality auto body repairs with properly trained technicians and the appropriate equipment. We hold several manufacturer certifications and factory-direct training which makes us a leader in comprehensive collision repair.
Classic Collision is continuously looking to add new collision repair locations and automotive glass repair and replacement businesses to its existing network as well as expand into new markets within the U.S. For anyone interested in selling their business to us, please visit classiccollision.net/join/ and start a confidential discussion today.
About New Mountain Capital
New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, public equity, and credit funds with over $20 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit www.newmountaincapital.com