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Letter to the Editor
Thursday February 27
CCC Information Services Inc. Acquires Comp-Est Estimating Solutions
CCC Information Services Inc., a supplier of automotive claims and repair technology solutions and services, announced it has completed the asset purchase of Comp-Est Estimating Solutions, a privately-held provider of automotive-estimating software, from Hearst Business Publishing, Inc. through an option exercise. Financial terms were not disclosed, however, it is expected that the acquisition will add to CCC’s overall revenue growth.Comp-Est, based in Columbus, Ohio, provides estimating applications to single-location repair facilities, among the fastest-growing market segment for estimating products. With the acquisition, CCC gains the opportunity to serve 4,500 additional customers and can offer a broader suite of electronic estimating and other tools to all types of collision-repair businesses.
“Comp-Est fits perfectly with our strategy to invest in opportunities that complement and add value to our core business,” said Githesh Ramamurthy, chairman and chief executive officer of CCC. “This acquisition strengthens our ability to provide the most complete product offering in the collision repair industry.”
“Since 1990, we have focused on making the business of fixing cars easier and more cost-effective for independent and single-location repair facilities,” said Chris Trevethan, president and chief executive officer of Comp-Est. “We’ve succeeded in business because of the strength of our products and our superior customer service. CCC and Comp-Est share these values, and I believe this transaction will be positive for our customers and our employees.”
CCC will continue to operate Comp-Est out of Columbus, Ohio.
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