Caliber Collision Centers Acquires Southwest Body and Paint In Texas.

IRVINE, Calif.--(AutomotiveWire)--Aug. 25, 1999--

Southwest's Three Locations in Austin, Round Rock and Corpus

Christi Puts Caliber in Leadership Position in Austin Marketplace

Caliber Collision Centers, an Irvine-based operator of high-quality collision repair facilities in California and Texas, Wednesday announced the completed acquisition of Southwest Body and Paint, a premier automobile collision repair business with three centers in Austin, Round Rock and Corpus Christi, Texas.

Terms of the agreement were not disclosed, however Caliber anticipates that the acquisition will increase the company's annualized revenues to approximately $90 million. According to Matthew Ohrnstein, chief executive officer of Caliber Collision Centers, the acquisition continues to solidify Caliber's presence in Texas, particularly in the Austin market.

"Caliber has focused its acquisition growth strategy toward meeting the collision repair needs of our insurance partners and their insureds," said Ohrnstein. "By acquiring Southwest Body and Paint, we are adding three first-rate centers with outstanding reputations that will substantially strengthen our presence in Texas, the second largest auto market in the United States."

While the acquisition of Southwest Body and Paint will bring the total number of centers in the greater Austin area to three, it also represents Caliber's entry into the Corpus Christi market.

"Caliber will continue to acquire high-quality collision repair centers in those Texas markets where our insurance partners identify the opportunity for improved service delivery to their customers," said Ohrnstein.

Founded in 1973 by Gary and Janice Haldeman, Southwest Body and Paint has grown to become one of the most reputable collision repair companies in Texas, witnessed by numerous industry awards received during the past 26 years.

"Southwest has one of the most experienced staff of technicians in the industry and we are fortunate to have these top-notch professionals join the Caliber team," said Bill Lawrence, Caliber's chief operating officer.

Haldeman will assume a leadership role, overseeing regional growth in Austin and Corpus Christi.

"Caliber will provide my employees and me with the opportunity to help lead the positive change that is taking place in the collision repair industry," said Haldeman. "Caliber's commitment to customer service and employee welfare and development are consistent with our focus and values. My entire organization is excited about joining the Caliber team to better serve our insurance clients and their customers."

About Caliber Collision Centers

Founded in 1991 and with headquarters in Irvine, Caliber Collision Centers is an operator of high-quality collision repair facilities in California and Texas. Caliber currently owns and operates 27 facilities and plans to continue acquiring, developing and integrating high-volume collision repair centers, while providing innovative collision repair solutions and automobile physical damage claims support.