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Boyd Group boosts U.S. holdings


October 2, 2001   by Canadian Underwriter


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Winnipeg-based auto collision repair operator The Boyd Group Inc. (TSE: BYD.A) has acquired AWC Collision Center which consists of four operations located in metro Seattle and Tacoma within the U.S. state of Washington. The terms and purchase price of the acquisition were not disclosed.
Boyd will, however, issue about 143,000 class-A shares at a value of around Cdn$750,000 to partly pay for the acquisition of AWC. The acquisition boosts Boyd’s presence in Washington to eight operations. The company expects that AWC will generate about Cdn$11.25 million in revenue for the 2002 financial year. The acquisition also advances Boyd’s total annual revenue to around Cdn$144 million, of which two-thirds of this amount is derived from its U.S. operations.