CSN Collision partners with private equity

CSN Collision, a North American network of collision repair centres, today announced that it has partnered with ONCAP, the lower mid-market private equity platform of Onex Corporation, to acquire various collision centres from the founders of CSN, who will remain shareholders in the company going forward.

The terms of the deal were not disclosed.

Established in 2002 and headquartered in Oakville, Ont., CSN provides access to direct repair programs of insurance partners, preferential procurement programs of key industry suppliers, and ongoing operational training and support from CSN’s in-house team of experts.

ONCAP operates with a team of 39 employees managing $3.5 billion in assets across offices in Toronto and New York.

“This transaction marks a pivotal milestone in CSN’s evolution and the beginning of an exciting new chapter in its growth story,” CSN announced in a statement about the deal. “With ONCAP’s financial backing and the establishment of a scaled platform of corporate-owned collision centers, the company is now positioned to pursue the acquisition of collision repair businesses of any size.”

CSN’s network of independently owned collision repair centres remains the cornerstone of its business, the company says. ONCAP’s investment is intended to promote further expansion with greater resources to support CSN licensees.

“This is an exciting time for CSN and the entire collision repair industry,” said Ryan Bruno, president and CEO of CSN Collision. “This partnership is about building a stronger foundation for the future. ONCAP brings deep experience scaling multi-site businesses in the automotive aftermarket. With their support, CSN will be able to accelerate its growth plans, while continuing to deliver exceptional value to our licensees, insurance partners, and, most importantly, customers.”

ONCAP said it targeted CSN for its reputation for leadership and innovation in the collision repair industry.

“We are thrilled to be partnering with the Company as it embarks on its next phase of growth, pursuing both organic initiatives and acquisition opportunities, while building on CSN’s unique culture and long-standing commitment to excellence in collision repair,” says Rene Boissonnault, principal at ONCAP.

David Gambrill

David has twice served as Canadian Underwriter’s senior editor, both from 2005 to 2012, and again from 2017 to the present.