Caliber Collision Centers, an Irvine-based operator of collision repair shops, said a group of investors including Zurich Financial Services Group has bought $40 million in the company’s stock.
Other investors include Keystone Inc., an affiliate of Oak Hill Capital Management Inc., and The Interinsurance Exchange of the Automobile Club. Caliber said it plans to use the proceeds of the stock sale to acquire and develop centers in current markets in California and Texas and eye expansion to new areas.
The stock sale follows a $20 million investment made by BNY Capital Partners LP and The 1818 Mezzanine Fund in August.
Caliber counts 34 repair centers in Southern California and 28 in Texas.
