Boyd Group closes acquisition of Joe Hudson's Collision

Executive Summary

• Boyd Group Services Inc. has completed the acquisition of Joe Hudson's Collision Center, a transaction previously announced on October 29, 2025.
• The acquisition adds 258 locations in the U.S. Southeast, increasing Boyd's North American footprint by 25% to a total of 1,301 locations.
• The total consideration for the transaction is approximately $1.3 billion (U.S.), financed through a mix of equity, debt, and credit facilities.

Key Details

• Transaction Structure: Acquisition of Joe Hudson's Collision Center.
• Total Consideration: Approximately $1.3 billion (U.S.), subject to closing and post-closing adjustments.
• Financing Details:
  • $897 million (U.S.) from Boyd's debut United States equity offering.
  • $525 million (U.S.) from a private placement of senior unsecured notes due 2030.
  • Drawings on the company's revolving credit facility.
• Operational Impact:
  • Adds 258 locations across the U.S. Southeast region.
  • Increases Boyd's North American location footprint by 25% to 1,301 locations.
  • Expected to support improved profitability through meaningful cost synergies and accelerated achievement of previously announced goals.
• Strategic Context:
  • CEO Brian Kaner described the move as a "transformative step" solidifying Boyd's position in the fragmented North American collision industry.
  • The acquisition complements Boyd's growth strategy and focus on operational excellence.
  • Combined with "Project 360" (cost transformation plan) and the "WOW Operating Way," the company aims to outperform the market and execute long-term growth objectives.

Notable Quotes

• Brian Kaner, President and CEO: "The closing of the acquisition of Joe Hudson's represents a transformative step for Boyd, further solidifying our position as a leading player in the highly fragmented North American collision industry."
• Brian Kaner, President and CEO: "Joe Hudson's brings a strong operational track record, financially and operationally, disciplined growth, and a complementary regional footprint that aligns perfectly with Boyd's growth strategy and focus on operational excellence."
• Brian Kaner, President and CEO: "As we look ahead to 2026, the progress we have made through Project 360, our cost transformation plan, has strengthened our operating foundation and profitability... Together with the acquisition of Joe Hudson's, these initiatives position Boyd well to continue to execute on our long-term growth objectives."