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AutoCanada Expands Collision Platform With Acquisition of Contemporary Coachworks in Calgary

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AutoCanada (ACQ.TO) announced Monday the completion of its acquisition of Contemporary Coachworks.

Contemporary Coachworks is a Calgary-based collision repair business with more than 40 years of operating history and a "strong reputation" for OEM-certified luxury vehicle repairs, stated the company. The business operates two facilities serving north and south Calgary and adds approximately 30,000 square feet of collision repair capacity to AutoCanada's network, the company said.

Contemporary Coachworks holds certifications across 15 OEM brands, including Tesla, BMW, Mercedes-Benz, Lexus, Volvo, Acura and Volkswagen, AutoCanada added.

The acquisition advances AutoCanada's strategy to expand and strengthen its collision platform while establishing its "first luxury collision repair presence" in Calgary and enhancing its position in "one of Canada's largest automotive markets," said the company.

"Contemporary Coachworks is an excellent addition to our growing collision platform," said Samuel Cochrane, Chief Executive Officer and Interim Chief Financial Officer of AutoCanada. "The business has built a strong reputation for quality repairs, customer service and OEM-certified expertise. This acquisition expands our presence in Calgary, strengthens our luxury collision capabilities, and creates opportunities to enhance our collision operations through shared best practices and our OEM and insurance relationships."

The company's shares were last seen up $0.23 at $21.60 on the Toronto Stock Exchange.

Price: $21.60, Change: $+0.23, Percent Change: +1.08%

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