Overview Key strengths Key risks Well established multi-store operator (MSO). Uncertainty surrounding collision repair volumes for at least the next 12 months. Long-term and strong relationships among key national auto insurance providers. Shortage of skilled labor across the industry. Increasingly sophisticated vehicle technology benefits larger companies with capital to allocate toward proper tooling and labor. Aggressive acquisition strategy. Market conditions in 2024 resulted in slower-than-expected same-store sales growth, largely related to lower volumes. Top line growth for 2024 was largely driven by store acquisitions. Shifts in consumer preferences hurt collision repair volumes as they elected to forgo nonessential repairs, especially cosmetic work, while consumers also shifted to cheaper insurance policies with higher deductibles. Additionally, the moderation in used car values
