The Boyd Group has acquired a Chicago-based national insurance claims administrator called Netcost Claims Services.
NCS expands Boyd Group’s existing third-party administration business which serves the fleet management and insurance-funded segments of the auto glass repair industry by providing a complete outsourced solution from the time a claim is made.
In 2013 NCS generated sales of approximately US$25 million.
The total purchase price consideration of approximately of $3.0 million, subject to post closing adjustments, will be funded through a combination of available cash and seller financing.
"This is a very important development that will enhance our current glass repair business and enable our U.S. auto glass business to grow its relationship with its fleet management and insurance industry customers." said Brock Bulbuck, president and CEO of the Boyd Group.
Winnipeg-based Boyd Group Inc. is the largest operator of non-franchised collision repair centers in North America in terms of locations and one of the largest in terms of sales.