Boyd closes Joe Hudson acquisition
Boyd Group Services’ acquisition of Joe Hudson’s Collision Center (JHCC) has been finalized, with regulatory requirements satisfied and closing announced on Friday.
TSG Consumer (TSG), a private equity firm specializing in consumer brands, announced Oct. 29 that it had signed a definitive agreement to sell its majority stake in JHCC to Boyd for $1.3 billion.
The sale adds 258 Boyd locations and expands the company’s shops into two new states, as well as its presence in the U.S. Southeast. It increases Boyd’s North American location footprint by 25% to 1,301.
A Boyd press release states that the expanded scale, combined with enhanced regional density, is expected to support improved profitability through meaningful cost synergies across the combined company while accelerating the achievement of Boyd’s previously announced goals.
“The closing of the acquisition of Joe Hudson’s represents a transformative step for Boyd, further solidifying our position as a leading player in the highly fragmented North American collision industry,” said Brian Kaner, Boyd’s president and CEO, in the release. “Joe Hudson’s brings a strong operational track record, financially and operationally, disciplined growth, and a complementary regional footprint that aligns perfectly with Boyd’s growth strategy and focus on operational excellence.
“We are excited to officially welcome Joe Hudson’s team to the Boyd family. Their proven execution discipline and strong cultural alignment will further strengthen the combined organization, and together we are well positioned to build on our long-term track record of growth and profitability.”
The total consideration for the transaction is $1.3 billion, subject to closing and post-closing adjustments, and was funded through the Boyd’s debut U.S. equity offering of $897 million, a private placement of $525 million of senior unsecured notes due 2030, and drawings on the company’s revolving credit facility.
“As we look ahead to 2026, the progress we have made through Project 360, our cost transformation plan, has strengthened our operating foundation and profitability,” said Kaner. “Enhancements to our go-to-market strategy have supported an established pipeline of strategically located start-up locations that will further densify our footprint, while the expansion of our WOW Operating Way has enabled the Company to outperform the market. Together with the acquisition of Joe Hudson’s, these initiatives position Boyd well to continue to execute on our long-term growth objectives.”
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