Joliet, IL (PRWEB) September 28, 2012
September 27, 2012, Joliet, Illinois: Collision Revision, Inc. announced today that key members of the management team of Collision Revision, Inc. have placed a bid to acquire the assets and stock of the company held by Roger A. D’Orazio, Jr. including intellectual property and trade name. As part of the bid, the new group will assume customer and supplier contracts and obligations. The deal structure is not being disclosed, however no real estate is being sold as part of the transaction. The headquarters for the business will remain in Joliet, Illinois. Chief Information Officer Fiore D'Orazio led the buyout and he will assume the role of CEO for the interim.
Bryan Perino, a proposed executive director and member of the acquiring management team, as well as a 15-year company veteran said, “Our management team is excited to complete the acquisition and work together in this new entity. We are highly motivated to continue developing and growing our organization. The acquisition will allow us to reengineer our business model while continuing to provide Best-in-Class collision repair solutions to our insurance customers and vehicle owners. In addition to executing on our mission to create Raving Fans, we are evaluating additional resources to expand our business through inorganic acquisitions of regional multiple shop operators across the United States.” Lee Blank, another proposed executive director and member of the acquiring management team, as well as a 23-year veteran of the company said, “Our executive team recognizes we can generate significant value for our customers, employees, suppliers and shareholders through this acquisition and look forward to helping lead the business into the next generation. We will diligently focus on quality, delivery and cost, producing quality repairs and service for vehicle owners and our insurance customers.”
Roger A. D’Orazio, Jr. also founded and is the chairman of DORA Holdings, Inc. a private holding company with operating interests in automotive (new, used car vehicle sales, including consumer financing and reinsurance), contract manufacturing, global logistics and OTR transportation, real estate (development and management) and energy (remanufacturing). He is also a founding director of FCB Financial Partners, a bank holding company with regional branches in Illinois.
About Collision Revision, Inc.
Collision Revision, Inc. was founded in 1976 by Roger A. D’Orazio, Jr. at the age of 17. He grew the business throughout the years to become the seventh largest collision repair operator in the United States and the largest privately-held without any outside equity partners. The company has 29 repair centers throughout Illinois (26), Indiana (2) and Florida (1) and completes over 28,000 repair orders per year.