CollisionRight Announces Investment from Growth Equity Firm Summit Partners

DUBLIN, Ohio--(BUSINESS WIRE)--CollisionRight (“the Company”), a leading consolidator of automotive collision repair shops in the United States, today announced a majority investment from Summit Partners, a leading growth equity investment firm. The new capital will help support CollisionRight’s growth plan, which is focused on acquiring and operating high-quality, customer-friendly collision repair shops across the Central United States and Mid-Atlantic regions. CollisionRight Founder and CEO Rich Harrison will retain significant equity ownership in the business by investing alongside Summit, as will several other members of the Company’s senior management team.

Founded in 2020, CollisionRight has acquired 89 collision repair shops in the past three and a half years, establishing the Company as one of the leading consolidators and providers of collision repair services in the United States. The Company and its skilled repair technicians aim to provide high-quality, reliable repairs for consumers, using modern technology, paint, and parts, and to be an equally reliable partner to the Company’s insurance carrier partners who pay for the overwhelming majority of repairs undertaken by CollisionRight.

“Partnering with Summit will help CollisionRight enter a new and expanded era of growth,” said CEO Rich Harrison. “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,” he added.

“CollisionRight has quickly established itself as a market leader in the collision repair industry, and we are excited to help Rich and his team extend this leadership position,” said John Carroll, a Managing Director at Summit Partners who will join Rich Harrison on the Company’s Board of Directors.

“The collision repair industry remains highly fragmented, large and, in our view, very attractive,” added Robert Grady, an Advisory Partner at Summit who will also join the Company’s Board of Directors. “We look forward to working closely with the CollisionRight team to capitalize on this opportunity and enhance the Company’s position as a growing, high-quality, customer-focused company.”

The terms of the transaction were not disclosed.

About CollisionRight

CollisionRight is a leading 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. CollisionRight differentiates itself through a passion for quality repair work, backed by heavy investment in state-of-the-art 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. The Company maintains strong relationships with insurance carriers, who generate approximately 90% of the Company’s sales. The Company is based in Dublin, Ohio. For more information, please visit www.CollisionRight.com.

About Summit Partners

Founded in 1984, Summit Partners is a global alternative investment firm with capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare, and growth products and services. Summit maintains offices Boston, Menlo Park, London, New York, and Luxembourg, and invests in companies around the world. For more information, please see www.summitpartners.com or Follow on LinkedIn.