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Letter to the Editor
This article originally appeared in the February 2004 Issue of INSIGHT
Funding a Dream
Collision Industry related stocks got off to a pretty good start the first two weeks of the year.
CCC Information Systems and Insurance Auto Auctions, two companies that saw their shares do next to nothing throughout last year saw their per share prices jump ten percent and fifteen percent respectively.
The big news broke almost too late to be included in this issue of INSIGHT. The Boyd Group, the North American collision repair facility consolidator based in Winnipeg, Canada, has announced its acquisition of Gerber Auto Collision & Glass. Rumors had been flying for over a month about a deal between Boyd and one of the U.S. body shop groups, so it is nice to finally put a name to the purchase agreement.
Boyd management generally does its homework carefully, and it would seem that this will work out to be a good, profitable fit for Boyd.
Eddie Cheskis, Gerber’s CEO, developed a good regional unit of 17 Chicago-area repair facilities, and the acquisition certainly gives Boyd a large foothold in the midwest U.S.
INSIGHT will continue to watch the growth of Boyd, currently the only collision repair facility operator that has taken the leap to become a public company.
Below is a little report on how our INSIGHT Fund is faring. Since we added the Boyd Group to the fund in 1999, we have managed to grow our start-up investment of $50,000 to a dreamy $75,000.
Too bad the investment is a pretend one!
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-Charles Baker-
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