Trivest Partners and LP First Capital Announce the Creation of OpenRoad, a Family of Collision Repair Center Brands
CORAL GABLES, Florida. and AUSTIN, TX, September 6, 2022 /PRNewswire/ — Trivest Partners (Miami, Florida) and LP First Capital (Austin, TX) today announced the formation of OpenRoad, a family of leading brands in the collision repair industry. The announcement comes with the acquisition of four well-known body shops, including Car Crafters (Albuquerque, New Mexico), Drury and Moss bodywork (Amarillo, TX), 1st Choice Collision (Houston, TX) and Helotes Collision (Helots, TX). Together, the OpenRoad family of brands now operates 12 body repair centers located in the South West.
OpenRoad’s initial investment was Car Crafters, the largest independent auto body repair center in the state of New Mexico. At its five sites in Albuquerque and Rio Rancho, Car Crafters has strong relationships with all major insurers and repairs more automobiles than any other shop in the state. Car Crafters is led by industry veterans Jim and Sean Guthriewho will remain with the store and continue to lead strategic and operational initiatives.
“For over 40 years, Car Crafters has been known for its quality repairs, excellent technician training, superior benefits and exceptional shop culture. Our partnership with Trivest and LP First Capital will allow us to capitalize on this reputation and their collective funding, operational and strategic resources will allow us to grow in the greater South West while maintaining Car Crafters’ culture and commitment to quality,” said Jim GuthrieFounder of Car Crafters and President of OpenRoad.
Led by industry veteran Tom Csekme, who will serve as President and CEO, OpenRoad is currently pursuing strategic acquisitions of leading collision repair centers across United States.
“The collision repair industry remains highly fragmented despite recent consolidation efforts by a few large industry players. We look forward to expanding the OpenRoad initiative by partnering with store owners who want to preserve the brand and their store’s legacy, without sacrificing the quality of the repair or the employee engagement,” said Logan Basseyvice president at LP First Capital.
“OpenRoad fits perfectly with Trivest’s strategy of partnering with growing founder and family businesses in fragmented markets. We believe we can leverage our experience in the automotive aftermarket space and further purchase and build successes to help OpenRoad become one of the biggest players in the collision industry,” added Reid CallawayDirector at Trivest.
To learn more about OpenRoad, please visit OpenRoadCollision.com
OpenRoad partners with and invests in leading collision repair centers in the United States. OpenRoad believes that quality repairs, excellent technician training, a shop culture and a passionate employee base are the gears that create a premier collision center. OpenRoad is currently pursuing additional acquisitions of leading collision repair centers across United States. openroadcollision.com
Trivest Partners, with offices in Miami, Charlotte, Chicago, Los Angeles, philadelphia creamand Torontois a private investment firm focused exclusively on supporting and growing founder-led and family-owned businesses in the United States and Canada, in transactions with or without control. Since its creation in 1981, Trivest has made more than 400 investments, totaling approximately $7 billion value. The company has approx. $4 billion of assets under management, with a growing team of more than 60 professionals. Trivest is one of 15 companies recognized by Inc. Magazine as one of the top founder-friendly private equity firms for three consecutive years. trivest.com
About LP First Capital
LP First Capital is a private investment firm with experience in building super-regional and national platforms by leveraging its expertise in mergers and acquisitions, profit center integration and team building to boost performance. Based at Austin, TXLP First Capital maintains an active presence in most Southwest, Southeast and Midwest markets, while continuing to focus on building world-class businesses within traditionally fragmented industries. lpfirstcapital.com
Contact: Tom Csekme; [email protected]
SOURCE LP First Capital