Boyd Group Services Inc. Completes Acquisition of Joe Hudson's Collision Center

Rhea-AI Summary

Boyd Group Services (TSX: BYD) completed the acquisition of Joe Hudson's Collision Center on Jan 9, 2026, after a definitive agreement announced Oct 29, 2025. The deal adds 258 locations in the US Southeast, increasing Boyd's North American footprint by 25% to 1,301 locations. Total consideration is approximately US$1.3 billion, subject to adjustments. Funding included a US$897 million U.S. equity offering, a private placement of C$525 million senior unsecured notes due 2030, and drawings on the revolving credit facility. Management said the combination should improve profitability via cost synergies and support Boyd's Project 360 initiatives.

Positive

• Adds 258 locations in US Southeast
• Footprint increases 25% to 1,301 locations
• Transaction value of approximately US$1.3 billion
• Completed US$897 million debut U.S. equity offering to fund acquisition

Negative

• Acquisition funded partly by equity offering, creating potential share dilution
• Raised C$525 million of senior notes and used revolver, increasing leverage

News Market Reaction

-0.46%

1 alert

-0.46% News Effect

On the day this news was published, BYD declined 0.46%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Added locations: 258 locations Location footprint: 1,301 locations Footprint increase: 25% +4 more

7 metrics

Added locations 258 locations Joe Hudson’s Collision Center acquisition footprint

Location footprint 1,301 locations Total North American locations after acquisition

Footprint increase 25% Increase in North American location footprint from deal

Deal consideration US$1.3 billion Total consideration for Joe Hudson’s acquisition

U.S. equity offering US$897 million Debut U.S. equity offering used to fund acquisition

Senior notes C$525 million Private placement of senior unsecured notes due 2030

Notes maturity 2030 Maturity year of senior unsecured notes

Market Reality Check

Price: $84.54 Vol: Volume 831,126 is very cl...

normal vol

$84.54 Last Close

Volume Volume 831,126 is very close to the 20-day average of 834,206, indicating typical trading activity. normal

Technical Shares are trading above the 200-day moving average of 79.25 and sit 1.31% below the 52-week high of 89.50.

Peers on Argus

The stock was up 2.63% while key peers like CZR (+7.05%), RRR (+3.95%), MGM (+3....

The stock was up 2.63% while key peers like CZR (+7.05%), RRR (+3.95%), MGM (+3.66%) and MTN (+2.99%) also gained, with MLCO down 0.58%. Scanner data does not flag a coordinated sector momentum move.

Common Catalyst Select peers had earnings-related calendar updates, but no broad acquisition theme appears across the group.

Historical Context

5 past events · Latest: Jan 05 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 05	Earnings date notice	Neutral	+2.6%	Announcement of reporting date and call for Q4 and full-year 2025.
Dec 30	Charitable initiative	Neutral	-0.3%	Trees of Hope donation program with broad nonprofit participation.
Dec 04	Dividend declaration	Positive	-0.6%	Quarterly cash dividend of $0.18 per share announced.
Oct 23	Quarterly earnings	Positive	+2.4%	Q3 2025 results with large FanDuel gain and stable adjusted earnings.
Oct 01	Earnings call schedule	Neutral	+0.7%	Scheduling of Q3 2025 earnings release and conference call.

Pattern Detected

Recent news has often seen modest positive price moves around results and scheduling updates, with occasional negative reactions to dividends and charitable or general news.

Recent Company History

Over the last several months, the company has focused on steady communication and capital returns. It announced Q3 2025 results with revenues of $1.004 billion and a large after-tax gain from the FanDuel stake sale, alongside stock repurchases and dividends. Regular quarterly dividends of $0.18 per share and charitable initiatives like the Trees of Hope program were highlighted. Multiple conference and earnings-date notices underlined consistent investor outreach ahead of 2025 and early 2026 results.

Market Pulse Summary

This announcement centers on completing a transformative acquisition that adds 258 locations and exp...

Analysis

This announcement centers on completing a transformative acquisition that adds 258 locations and expands the footprint to 1,301 sites across North America. The transaction, totaling US$1.3 billion, was financed through a US$897 million equity offering, C$525 million of senior unsecured notes due 2030, and credit facility drawings. Investors may watch integration progress, realized cost synergies, and future capital allocation decisions as key markers of execution.

Key Terms

equity offering, senior unsecured notes, revolving credit facility, cost synergies

4 terms

equity offering financial

"funded through the Company's debut U.S. equity offering of US$897 million"

An equity offering is when a company sells new shares to investors to raise money, similar to cutting a larger pizza into more slices to bring to a party. It matters because it changes ownership stakes — existing shareholders own a smaller portion of the company after the sale — and can affect the stock price and future profits depending on how the raised funds are used.

senior unsecured notes financial

"a private placement of C$525 million of senior unsecured notes due 2030"

Senior unsecured notes are a type of loan a company borrows from investors, promising to pay back with interest. They are called "unsecured" because they aren’t backed by specific assets like buildings or equipment, but "senior" because they are paid back before other debts if the company gets into trouble. Investors see them as a relatively safer way for companies to raise money.

revolving credit facility financial

"and drawings on the Company's revolving credit facility."

A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.

cost synergies financial

"support improved profitability through meaningful cost synergies across the combined company"

Cost synergies are the expected savings when two businesses combine activities so they can eliminate duplicate work, negotiate better prices, or run things more efficiently—like two households moving in together to share rent, groceries and utilities. Investors care because these savings can boost profit margins and cash flow, improving returns and supporting a higher valuation if the projected cuts are realistic and actually achieved. Actual results may differ from projections, so promised cost synergies are closely watched in deal assessments.

AI-generated analysis. Not financial advice.

Solidifying Boyd's Position as a Leading Player in the North American Collision Industry

WINNIPEG, MB, Jan. 9, 2026 /PRNewswire/ - Boyd Group Services Inc. (TSX: BYD) (NYSE: BGSI) ("BGSI", "the Boyd Group", "Boyd" or "the Company") today announced the closing of the acquisition of Joe Hudson's Collision Center ("Joe Hudson's"), the definitive agreement to acquire Joe Hudson's having been previously announced on October 29, 2025. The acquisition adds 258 locations across the US Southeast region, increasing Boyd's North American location footprint by 25% to 1,301. This expanded scale, combined with enhanced regional density, is expected to support improved profitability through meaningful cost synergies across the combined company while accelerating the achievement of Boyd's previously announced goals.

"The closing of the acquisition of Joe Hudson's represents a transformative step for Boyd, further solidifying our position as a leading player in the highly fragmented North American collision industry," commented Brian Kaner, President and CEO of Boyd. "Joe Hudson's brings a strong operational track record, financially and operationally, disciplined growth, and a complementary regional footprint that aligns perfectly with Boyd's growth strategy and focus on operational excellence".

"We are excited to officially welcome the Joe Hudson's team to the Boyd family. Their proven execution discipline and strong cultural alignment will further strengthen the combined organization, and together we are well positioned to build on our long-term track record of growth and profitability," continued Mr. Kaner.

"As we look ahead to 2026, the progress we have made through Project 360, our cost transformation plan, has strengthened our operating foundation and profitability. Enhancements to our go-to-market strategy have supported an established pipeline of strategically located start-up locations that will further densify our footprint, while the expansion of our WOW Operating Way has enabled the Company to outperform the market. Together with the acquisition of Joe Hudson's, these initiatives position Boyd well to continue to execute on our long-term growth objectives", concluded Mr. Kaner.

The total consideration for the transaction is approximately US$1.3 billion, subject to closing and post-closing adjustments, and was funded through the Company's debut U.S. equity offering of US$897 million, a private placement of C$525 million of senior unsecured notes due 2030 and drawings on the Company's revolving credit facility.

About Boyd Group Services Inc.

Boyd Group Services Inc. is a Canadian corporation and controls The Boyd Group Inc. and its subsidiaries. BGSI shares trade on the Toronto Stock Exchange under the symbol BYD and on the New York Stock Exchange under the symbol BGSI.

About The Boyd Group Inc.

The Boyd Group Inc. ("Boyd") is one of the largest operators of non-franchised collision repair centres in North America in terms of number of locations and sales. Boyd operates locations in Canada under the trade names Boyd Autobody & Glass and Assured Automotive as well as in the U.S. under the trade name Gerber Collision & Glass. In addition, Boyd is a major retail auto glass operator in the U.S. with operations under the trade names Gerber Collision & Glass, Glass America, Auto Glass Service, Auto Glass Authority and Autoglassonly.com. Boyd also operates a third-party administrator, Gerber National Claims Services, that offers glass, emergency roadside and first notice of loss services. Boyd also operates a Mobile Auto Solutions ("MAS") service that offers scanning and calibration services.

Caution concerning forward-looking statements

Statements made in this press release, other than those concerning historical information, may be "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws of the U.S. and Canada, respectively (collectively, "forward-looking statements") and therefore subject to various risks and uncertainties. Some forward-looking statements may be identified by words such as "may", "will", "anticipate", "estimate", "expect", "intend", "continue", "will", "project", "target", "plan", "goal" or the negative thereof or similar variations.

The forward-looking statements in this press release include, without limitation, statements regarding: Boyd's outlook and expectations regarding performance relative to industry peers; expectations for improved profitability through meaningful cost synergies; expectations for the acceleration of the achievement of Boyd's previously announced goals; expected strategic, financial and other benefits of the Joe Hudson's Collision Center acquisition, including the positioning of the combined business to build on Boyd's long-term track record of growth and profitability; expectations for the further densification of Boyd's footprint; ; and the Company's ability to execute on long term growth objectives.

Forward-looking statements are subject to significant risks and uncertainties and are based on a number of assumptions and estimates. Forward-looking statements are based on certain assumptions and analyses made by Boyd concerning its experience and perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate. A number of factors could cause actual results, performance or achievement to differ materially from those discussed or implied in the forward-looking statements. Specific risks and uncertainties related to the proposed acquisition of Joe Hudson's Collision Center include, but are not limited to: failure to realize the anticipated benefits or synergies of the acquisition; challenges or delays in achieving synergies and in integrating the acquired business into Boyd's operations; the possibility of unexpected material liabilities, disputes or contingencies related to the acquisition; risks associated with historical financial information of the acquired business; the diversion of management time and attention on the acquisition; the impact of costs in connection with the acquisition and integration of the acquired business into the Boyd's operations; risks associated with incurring additional debt to finance the acquisition; and retention of customers and employees of the acquired business. Other risks and uncertainties related to Boyd's business include, but are not limited to, risks and uncertainties relating to: a decline in number of insurance claims; employee relations and staffing; acquisition and new location risk; operational performance; brand management and reputation; market environment change; reliance on technology; supply chain risk; margin pressure and sales mix changes; economic downturn; changes in client relationships; environmental, health and safety risk; climate change and weather conditions; pandemic risk; competition; access to capital; dependence on key personnel; tax position risk; corporate governance; increased government regulation and tax risk; fluctuations in operating results and seasonality; risk of litigation; execution on new strategies; insurance risk; interest rates; U.S. health care costs and workers compensation claims; foreign currency risk; capital expenditures; low capture rates; and energy costs and Boyd's success in anticipating and managing the foregoing risks.

We caution that the foregoing list of factors is not exhaustive and that when reviewing our forward-looking statements, investors and others should refer to the "Business Risks and Uncertainties" section of Boyd's Annual Information Form, the "Business Risks and Uncertainties" and other sections of our Management's Discussion and Analysis of Operating Results and Financial Position and our other periodic filings with Canadian securities regulatory authorities and the SEC from time to time, available at www.sedarplus.com and www.sec.gov. All forward-looking statements presented herein should be considered in conjunction with such filings. Readers are cautioned not to place undue reliance on such forward-looking statements, as actual results may differ materially from those expressed or implied in such statements.

The forward-looking statements in this press release reflect the Boyd's current expectations, assumptions and/or beliefs based on information currently available, including with respect to such things as conditions in the collision and auto glass repair business, including weather, accident frequency, cost of repair, miles driven and available repairable vehicles; the Company's ability to complete the integration of acquired business within anticipated time periods and at expected cost levels; the Company's ability to achieve synergies arising from successful integration of the acquired business; the impact of the acquisition on growth; the accuracy and completeness of the information (including financial information) regarding the acquired business; the absence of significant undisclosed costs or liabilities associated with the acquisition; the successful implementation of margin improvement initiatives; the future performance and results of our business and operations; general economic conditions, industry forecasts and/or trends, the government and regulatory environment and potential impacts thereof. Although the Company believes the expectations reflected in these forward-looking statements and the assumptions upon which they are based are reasonable, no assurance can be given that actual results will be consistent with those expressed or implied in such forward-looking statements, and they should not be unduly relied upon. There can be no assurance that such expectations and assumptions will prove to be correct. The forward-looking statements contained in this press release describe the expectations of the Company as of the date of this press release. Except as required by law, the Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or for any other reason. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement.

View original content:https://www.prnewswire.com/news-releases/boyd-group-services-inc-completes-acquisition-of-joe-hudsons-collision-center-302657509.html

SOURCE Boyd Group Services Inc.

FAQ

What did Boyd Group (BYD) acquire on January 9, 2026?

Boyd completed the acquisition of Joe Hudson's Collision Center, adding 258 locations in the US Southeast.

How much did Boyd (BYD) pay for Joe Hudson's Collision Center?

The total consideration is approximately US$1.3 billion, subject to closing and post-closing adjustments.

How was the Joe Hudson's acquisition funded by Boyd (BYD)?

Funding included a US$897 million U.S. equity offering, a private placement of C$525 million senior unsecured notes due 2030, and drawings on the revolving credit facility.

What impact does the acquisition have on Boyd Group's (BYD) location footprint?

The acquisition increases Boyd's North American locations by 25% to 1,301 total locations.

What operational benefits did Boyd (BYD) cite from acquiring Joe Hudson's?

Boyd expects cost synergies, improved regional density, and accelerated progress on its Project 360 cost transformation initiatives.