Greenbriar Announces Recapitalization of VIVE Collision from Garnett Station Partners, Positioning the Company for Further Growth
Greenbriar Equity Group, L.P. ("Greenbriar") today announced that funds managed by Greenbriar recently completed the growth recapitalization of VIVE Collision ("VIVE" or the "Company"), a leading multi-site collision repair operator, in partnership with the Company's management and Garnett Station Partners, LLC ("Garnett Station"). Financial terms of the private transaction were not disclosed.
Founded by Vartan Jerian, Jr., Scott Leffler and Philip Taub, and led by an executive team with more than 50 years of industry experience, VIVE operates 35 collision repair facilities across the Northeastern United States. The Company maintains a dedicated focus on providing the highest-quality, people-first collision repair experience in the industry by prioritizing honesty, transparency, and reliability for its customers.
"Since we started, our mission has been to build a scaled, people-first collision repair provider that delivers the highest quality, customer-centric experience," said Vartan Jerian, CEO of VIVE. "We would like to thank the entire team from Garnett Station Partners, who showed an incredible commitment to investing in our company and our people to help VIVE maximize its potential. We are thrilled to have found a partner in Greenbriar who not only shares our foundational values, but also has significant experience building leading, multi-site vehicle aftermarket services businesses. With Greenbriar's support, we will continue to prioritize VIVE's differentiated service and quality offering, while further expanding the business throughout our core markets."
"It has been a pleasure to work with Vartan, Scott, and Phil over the last few years and we've been extremely impressed with the tremendous growth the entire VIVE team has achieved since our investment - taking the Company from a single location at inception to over thirty locations across seven states today. We are strong believers in the future of their business and are excited to see where Greenbriar and the management team take VIVE in its next chapter of growth," said Jordan Garay, Managing Director at Garnett Station Partners.
The investment by Greenbriar wil support VIVE's ongoing growth strategy, both organically and through M&A, as well as continued investment in the Company's infrastructure and operational resources.
Matt Burke, Managing Director at Greenbriar, said, "We've spent significant time evaluating opportunities in the collision repair space and are thrilled to partner with VIVE. Not only are they top-tier operators, but the VIVE team has established an outstanding track record of identifying and acquiring the highest quality shops in what is still a very fragmented segment of the market. We look forward to building on the Company's strong foundation as a leading consolidator while continuing to deliver exceptional service to VIVE's diverse and loyal customer base."
Harris Williams LLC acted as financial advisor and Foley & Lardner LLP and Federman Steifman LLP acted as legal advisors to Garnett Station and VIVE. Goldman Sachs & Co LLC served as financial advisor to Greenbriar.
VIVE Collision is a multi-site collision repair operator providing collision repair services to customers across New York, New Jersey, Maine, Rhode Island, Connecticut, Massachusetts and Pennsylvania. VIVE Collision was formed with a vision to carve a new path forward for the industry built on three fundamental values its founders believe the collision repair industry has neglected for too long: People, Process and Passion. "We are an organization deeply committed to our People. We are innovators of Process. We are practitioners of Passion. We are your modern family of collision repair experts." For more information, please visit vivecollision.com.
Greenbriar is a middle market private equity firm with more than 20 years of experience investing in market-leading services and manufacturing businesses. With approximately $10 billion of cumulative capital commitments, its investment strategy targets businesses led by experienced management teams capitalizing on strong long-term growth prospects that can benefit from Greenbriar's deep sectoral expertise, strategic insight, and operating capabilities. For more information, please visit greenbriarequity.com.
About Garnett Station Partners
Garnett Station Partners is a principal investment firm founded in 2013 by Matt Perelman and Alex Sloane that manages over $2.2 billion of assets. Garnett Station partners with experienced and entrepreneurial management teams and strategic investors to build value for its portfolio of growth platforms. The firm draws on its global relationships, operational experience and rigorous diligence process to source, underwrite and manage investments. Core sectors include consumer and business services, health & wellness, automotive, and food & beverage. Garnett Station's culture is based on the principles of entrepreneurship, collaboration, analytical rigor and accountability. For more information, please visit garnettstation.com.
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