EDMONTON, AB, Feb. 27, 2023 /CNW/ – AutoCanada Inc. (“AutoCanada” or the “Firm”) (TSX: ACQ), a multi-location North American vehicle dealership group, introduced right now that it has acquired DCCHail, a paintless dent restore (“PDR”) firm specializing within the insurance coverage declare administration course of and repairing hail broken autos, with a nationwide presence, together with Canada’s largest hail restore facility in Calgary, Alberta.
“We’re excited so as to add this well-managed hail injury restore operation to our community, offering a vertical integration alternative that may enable us to take higher management of the restore course of and develop this enterprise throughout markets in Canada and the U.S. by leveraging our present dealership, components & service and collision centre platforms,” mentioned Govt Chairman, Paul Antony. “We’re additionally happy to welcome the top quality DCCHail crew to the AutoCanada household and we stay up for persevering with its legacy into the long run.”
Working for over 20 years, DCCHail is one in all Canada’s main PDR service suppliers, specializing in insurance coverage declare administration and repairing hail broken autos. DCCHail’s responsive enterprise mannequin offers the experience, manpower, and professionalism to handle catastrophic hail losses all through Canada. DCCHail has revolutionized the PDR trade with its proprietary expertise DCCScan. DCCScan can examine and doc automotive hail injury beneath a mean of 5 seconds per scan. This significantly will increase the effectivity and accuracy of the hail restore course of. DCCScan integrates with DCCHail’s developed PDRMAX, a novel proprietary software program for processing hail estimates and managing the hail restore course of. The corporate provides PDR companies to Nationwide Insurance coverage Companions (Direct Restore Agreements), collision centres, and auto dealerships (fleet stock repairs). The present administration crew will proceed to function the enterprise going ahead. Aside from persevering with to strengthen the operation’s efficiency, the acquisition unlocks further development alternatives, together with the potential to develop the enterprise by leveraging AutoCanada’s dealership, components & service and collision platforms.
Monetary Highlights
The acquired firm generates in extra of $15 million in annual income. The transaction was funded from a drawdown of the Firm’s credit score facility and is anticipated to be accretive to 2023 earnings.
About AutoCanada
AutoCanada is a number one North American multi-location vehicle dealership group at the moment working 82 franchised dealerships, comprised of 28 manufacturers, in eight provinces in Canada in addition to a bunch in Illinois, USA. AutoCanada at the moment sells Chrysler, Dodge, Jeep, Ram, FIAT, Alfa Romeo, Chevrolet, GMC, Buick, Cadillac, Ford, Infiniti, Nissan, Hyundai, Subaru, Audi, Volkswagen, Kia, Mazda, Mercedes-Benz, BMW, MINI, Volvo, Toyota, Lincoln, Acura, Honda and Porsche branded autos. As well as, AutoCanada’s Canadian Operations section at the moment operates 3 used car dealerships and 1 used car public sale enterprise supporting the Used Digital Retail Division, 11 RightRide division areas, and 10 stand-alone collision centres inside our group of 25 collision centres. In 2021, our dealerships bought roughly 86,000 autos and processed over 800,000 service and collision restore orders in our 1,303 service bays producing income in extra of $4 billion.
Extra details about AutoCanada Inc. is accessible at www.sedar.com and the Firm’s web site at www.autocan.ca.
Sure statements contained on this press launch are forward-looking statements and data (collectively, “forward-looking statements”) inside the that means of the relevant Canadian securities laws. We hereby present cautionary statements figuring out essential elements that would trigger our precise outcomes to vary materially from these projected in these forward-looking statements. Any statements that specific, or contain discussions as to, expectations, beliefs, plans, aims, assumptions or future occasions or efficiency (typically, however not all the time, by means of using phrases or phrases similar to “will doubtless consequence”, “are anticipated to”, “will proceed”, “is anticipated”, “projection”, “imaginative and prescient”, “objectives”, “goal”, “goal”, “schedules”, “outlook”, “anticipate”, “anticipate”, “estimate”, “may”, “ought to”, “plan”, “search”, “could”, “intend”, “doubtless”, “will”, “imagine” and related expressions) will not be historic details and are ahead wanting. Particularly, this press launch accommodates forward-looking statements with respect to, amongst different issues, future working outcomes of the acquired enterprise, the profitable integration of the acquired enterprise into AutoCanada’s enterprise, and the expansion of the acquired enterprise.
The forward-looking statements included on this press launch will not be ensures of future efficiency and shouldn’t be unduly relied upon. Readers are cautioned that forward-looking statements are primarily based on present expectations, estimates and projections that, by their nature, forward-looking statements contain a variety of identified and unknown dangers and uncertainties, which may trigger precise outcomes to vary materially from these anticipated and described within the forward-looking statements. These identified and unknown dangers and uncertainties embrace, however will not be restricted to: future working outcomes, the influence of the COVID-19 pandemic on our operations, occasions that interrupt car or components provide to AutoCanada’s OEMs, monetary situation and liquidity and the period of such impacts; potential adjustments within the regulatory and legislative setting; volatility in curiosity and tax charges; working dangers inherent within the automotive retail trade; and adjustments basically financial circumstances together with the capital and credit score markets.
Ahead-looking statements contain estimates and assumptions and are topic to dangers, uncertainties and different elements a few of that are past our management and troublesome to foretell. Accordingly, precise outcomes or outcomes could differ materially from these expressed within the forward-looking statements. Particularly, in presenting its forward-looking statements, AutoCanada has made assumptions respecting, amongst different issues the long run working outcomes of the acquired enterprise, the profitable integration of the acquired enterprise into AutoCanada’s platform and the expansion alternatives on the acquired enterprise.
AutoCanada cautions that the foregoing record of assumptions, dangers and uncertainties shouldn’t be exhaustive. The Firm’s Annual Info Type and different paperwork filed with securities regulatory authorities (accessible by means of the SEDAR web site at www.sedar.com) describe the dangers, materials assumptions and different elements that would affect precise outcomes and that are integrated herein by reference. The forward-looking statements contained on this press launch communicate solely as of the date hereof and AutoCanada assumes no obligation to publicly replace or revise them to mirror new occasions or circumstances, besides as could also be required pursuant to relevant securities legal guidelines.
SOURCE AutoCanada Inc.
For additional data: Casey Charleson, Vice President, Finance, Cellphone: 780.732.3135, E-mail: [email protected]