Bain Capital-backed Dealer Tire LLC said on Monday, Jan. 6, it agreed to pay an undisclosed sum to acquire Dent Wizard LLC, a St. Louis-based automotive reconditioning specialist owned by Gridiron Capital LLC.
Cleveland-based Dealer Tire said the deal will create the leading after-sales dealer services platform in North America.
For its part, New Canaan, Conn.-based Gridiron Capital is exiting Dent Wizard after acquiring the company in 2015 from H.I.G. Capital LLC. H.I.G. carved out the business in 2010 from Manheim Auto Auctions, a unit of Cox Enterprises Inc.
Reports surfaced in 2017 of a potential sale of Dent Wizard, according to The Wall Street Journal. At the time, the auto body repair shop company was expected to attract a price of $1 billion or more.
Dent Wizard, which traces its roots to 1983, has more than 7,000 customers and employs more than 2,300 auto body technicians.
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