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November 2013

Penfund Announces US$60 Million Loan to Caliber Collision Centers

TORONTO, Ontario (November 25, 2013) – Penfund, an independent provider of capital to middle market companies located in the United States and Canada, announced today the completion of a US$60 million 2nd lien loan to Caliber Collision Centers (“Caliber”).  Caliber is a recently-acquired portfolio company of OMERS Private Equity Inc. (“OMERS”).

Headquartered in Lewisville, Texas, Caliber is one of the largest operators of collision repair centers in the United States.  The company operates 157 repair centers and provides vehicle owners and automobile insurers with high quality, timely repairs in conveniently located, modern facilities.

Jeremy Thompson, a partner at Penfund, stated “We are delighted to have been able to support OMERS’s acquisition of Caliber.  We are also very pleased to continue our long association with Caliber.  We believe Caliber’s exceptional management team will continue to rapidly grow the business with the backing of the human and financial resources of OMERS.  This growth will be underpinned by the intensifying desire of automobile insurers to rely on the ability of large, efficient and trustworthy repair center operators to deliver high quality services to their policy holders.”

“We are thrilled to partner with Steve Grimshaw, President and CEO of Caliber, and his management team for the Company’s next phase of growth,” said Tim Patterson, Senior Managing Director at OMERS.  “We believe that Caliber will continue to distinguish itself as the market leader in the highly fragmented collision repair industry in the years ahead.”

 

About Caliber Collision Centers

Caliber Collision Centers is the largest collision repair company in America with 157 I-CAR Gold Class Professional certified collision repair centers in California, Arizona, Nevada, Texas, Oklahoma and Colorado. Caliber is consistently ranked among the highest customer satisfaction scores in the industry and backs all repair work with a written, lifetime warranty available at any of its 157 repair centers.  For more information, please visit us at www.calibercollision.com.

 

About OMERS Private Equity Inc.

OMERS Private Equity Inc. is the private equity investment arm of the OMERS Worldwide group of companies. It manages the private equity activities of the OMERS pension plan and has over CAD$6 billion of investments under management.  The group’s investment strategy includes the active ownership of businesses in North America and Europe.  OMERS Private Equity Inc. is headquartered in Toronto, Canada, with offices in London and New York.  For further information visit: www.omerspe.com.

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About Penfund

Penfund is a leading provider of junior capital to middle market companies throughout North America. The firm is owned by its management team and is currently investing its most recently established fund, Penfund Capital Fund VI.  Penfund manages funds sourced from pension funds, insurance companies, banks, family offices and high net worth individuals and has invested more than $3 billion in over 225 companies since its establishment in 1979. Assets and capital under management currently exceed $1.6 billion.

For further information, please contact:

Jeremy Thompson

Partner

416 645-3790jthompson@penfund.com
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