Harris Williams Advises Joe Hudson's Collision Centers on its Sale to TSG Consumer Partners
Harris Williams, a global investment bank specializing in M&A advisory services, announces that it advised Joe Hudson's Collision Centers (JHCC), a portfolio company of Carousel Capital (Carousel), on its sale to TSG Consumer Partners, LLC (TSG). JHCC is a leading platform in the collision repair industry, operating approximately 110 state-of-the-art auto body repair shops across the Southeastern region of the United States. Carousel, JHCC's owner since 2014, will remain a minority investor in the company. The transaction was led by Joe Conner, Frank Mountcastle, Jeff Kidd, James O'Malley and Elliott Yousefian of the Harris Williams Transportation & Logistics (T&L) Group.
"JHCC has a longstanding reputation for providing market leading collision repair services to their customers as well as insurance partners," said Joe Conner, a managing director at Harris Williams. "Through their successful partnership with Carousel, JHCC has solidified their position as a leading provider in the industry and is now the fourth largest MSO in the country. We believe TSG is an excellent partner to help the company continue on its growth trajectory, and we are excited to see what the company accomplishes over the coming years."
"It was a pleasure to work with the JHCC management and Carousel teams on this transaction," added Jeff Kidd, a director at Harris Williams. "The deal represents another marquee transaction within the aftermarket services space and continues the firm's strong record of success in the broader automotive aftermarket this year. We believe the automotive aftermarket will continue to generate strong demand for investment given the sector's organic growth dynamics, the fragmented nature of the market and the sector's stability throughout economic cycles."
JHCC is a trusted provider and established leader in auto body collision repair. With 31 years of experience in the automotive repair industry, JHCC is recognized for its premier collision repair facilities, which are operated by highly-skilled professionals with quality workmanship. JHCC's first location, which was opened in 1989 and founded by Joe Hudson, stands firm in Alabama's capitol, Montgomery. The company operates 110 locations throughout nine states with plans to continue expansion.
Carousel is a private investment firm that invests in companies located in the Southeastern United States. Carousel's investor base includes institutional investors and an elite group of more than 100 current and former CEOs with significant operating experience. Since its inception, Carousel has invested in 43 companies primarily in three targeted growth sectors: business services; consumer services; and healthcare services. In addition to JHCC, Carousel's well-established and successful track record of partnering with companies in the automotive aftermarket service industry includes investments in Meineke, Maaco, Driven Brands and Express Oil Change/Tire Engineers. Similar to its continued investment in JHCC, Carousel holds continuing interests in Mavis Discount Tire/Express Oil Change.
TSG is a leading private equity firm focused exclusively on the branded consumer sector. Since its founding in 1987, TSG has been an active investor in the food, beverage, restaurant, fitness, beauty, personal care, household, apparel and accessories, and e-commerce sectors. Representative past and present partner companies include Power Stop, Duckhorn Wine Company, Planet Fitness, IT Cosmetics, REVOLVE, BrewDog, Canyon Bicycles, Pabst, Backcountry, vitaminwater, thinkThin, popchips, Stumptown, Smashbox Cosmetics and e.l.f. Cosmetics.
Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams T&L Group serves companies in a broad range of attractive niches, including automotive and heavy duty vehicle; transportation equipment; third-party logistics (3PL); and truck, rail, marine and air transportation. For more information on the firm's T&L Group and other recent transactions, visit the T&L Group's section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: [email protected]). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. awaited). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.
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