|
| | |
Business Tools | Wednesday August 7 Former Shop Owners Purchase CTA Back from FordWell, the rumors floating around the Collision Repair Industry are true: the shops of Collision Team of America (CTA), Ford Motor Company's stake in the independent body shop facility arena, have been sold by the automaker back to its individual-shop owners. While a confidentiality agreement shrouds much of the terms and price tags, a group of former shop owners headed up by Dan Hall and Paul Tatman have definitely purchased CTA from Ford. They have since dispersed the shops and assets among the collective group. For the last several months, Ford was negotiating with several of the consolidators, with California and Texas-based Caliber Collision and Minneapolis-based ABRA Collision and Glass mentioned most frequently as potential buyers. The word around the industry was that Caliber would be the deal-maker. Then negotiations apparently broke off. At the last minute, according to Scott Biggs, CEO of eMergent Technologies, Ford turned to the former owners who were left with tough choices and a near impossible task to execute, but they managed. True to their past reputations for leading the pack and making things happen, they were able to execute the deal. Press releases are in the works, but for now, INSIGHT has confirmed that:
Sources close to the deal are sure that all the former/current owners are extremely pleased with the results. Apparently, the group plans to go their separate ways, with one owner claiming that there is no Collision Team of America entity any more. ©2002 Collision Repair Industry INSIGHT | FEATURED INSIGHT Supports the NABC! |