CCG sold by Incline Equity Partners, receives Riverside Co. investment
Incline Equity Partners announced the sale of Certified Collision Group (CCG) on Tuesday, while The Riverside Co. shared on the same day that it has invested in the company.
Founded in 2014, CCG is a subscription-based membership network for independent collision repair shops that enables members to compete more effectively through collective vendor partners, access to preferred insurance programs, and operational improvements through performance management consulting and focused peer groups, according to press releases from Riverside and Incline.
Incline, a leading private equity firm dedicated to investing across the middle market, announced its sale of CCG on Tuesday.
Since partnering with Incline in 2022, CCG expanded its affiliate network to all 50 states and Canada, providing access to insurance programs, OEM certification support, performance management, and a broad range of vendor rebate programs, according to the Incline release.
“During our hold period, CCG more than doubled revenue through organic initiatives and two strategic acquisitions,” said Tom Ritchie, Incline partner, in the release. “We worked closely with Michelle Sullivan and other key hires to strengthen the leadership team, invest in technology and expand sales capabilities, positioning the Company for its next phase of growth.”
CCG CEO Michelle Sullivan added, “Incline’s experience and resources helped us significantly grow our capabilities and network. With support from Incline and their Catalyst Group, we developed a proprietary data tool to enhance purchasing visibility and drive growth opportunities for affiliates and vendor partners.”
Riverside, a global investment firm focused on the smaller end of the middle market, says it has completed more than 400 platform and add-on investments in the business services sector and has a team of global experts dedicated to growing these types of organizations.
“The collision repair industry is large, highly fragmented, and experiencing both consolidation and professionalization, with independents seeking to compete with national multi-shop operators,” said Riverside Partner Drew Flanigan in the release. “CCG is positioned to continue growing in its core market given its unique business model, unmatched network of affiliates, insurers, vendors, and distributor,s and a highly scalable asset-lite operating structure.”
Riverside Principal Daniel Grinnan added, “We look forward to working with CCG to accelerate affiliate growth, deepen vendor, distributor and carrier partnerships, and expand service offerings through both M&A and organic strategies.”
Sullivan said the partnership enables CCG to deliver even greater value to its affiliates and strategic partners.
“Our network is a group of forward-thinking entrepreneurs committed to high-quality work and relationships; we’re excited to see the opportunities this partnership brings to CCG and our stakeholders,” she said.
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Featured image: Logo provided by CCG