Carousel Capital Recapitalizes Joe Hudson’s Collision Center
Leading Provider of Automotive Collision Repair Services in the SoutheastRecovery and Compliance Technology and Services
October 20, 2014 – Charlotte, North Carolina and Montgomery, Alabama — Carousel Capital announced today that it has partnered with management to recapitalize Joe Hudson’s Collision Center (“JHCC” or the “Company”), one of the largest providers of automotive collision repair services in the United States. Based in Montgomery, Alabama, Joe Hudson’s Collision Center operates 23 stores in Alabama, North Florida and Western Georgia providing award winning quality services to its customers and insurance industry partners.
Founded in 1989, JHCC offers its customers free and accurate computerized estimates, along with quality, guaranteed repair work utilizing I-CAR certified technicians. The company delivers it services while providing real time information through its repair tracking system, enabling customers to monitor the status of their repairs 24 hours a day, 7 days a week through a web-interface. For its insurance partners, JHCC offers the resources necessary to expedite claims while providing the highest levels of customer service, resulting in satisfied policyholders.
“We are excited to partner with the management team of Joe Hudson’s Collision Center to assist them in continuing to build one of the highest quality and fastest growing collision center businesses in the country,” said Jason C. Schmidly, a Managing Partner of Carousel Capital. “This investment represents Carousel Capital’s fifth platform investment in the automotive aftermarket services sector and we find the opportunity to expand JHCC among the most compelling we have ever seen.”
“We have built our business on the base philosophy of unparalleled customer service. Carousel shares this view wholeheartedly and its experience developed through many successful investments in the automotive aftermarket sector gave us great confidence in working with them on this opportunity,” said Joe Hudson, Chairman and Founder of JHCC. Traweek Dickson, CEO, added “Carousel’s investment and support will help us achieve our goals of growing our business dramatically through the opening of new locations and through continued acquisitions throughout the region. We are thrilled to have a strong capital base and institutional support to achieve our strategic plan.”
Carousel Capital funded the transaction with equity from its fourth investment fund, Carousel Capital Partners IV, L.P. Financing was provided by GE Antares and Madison Capital Funding.
About Carousel Capital
Carousel Capital 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 34 companies primarily in three targeted growth sectors: business services; consumer services; and healthcare services.