Service King Collision Repair Centers, the Dallas-based auto body repair chain, is being acquired by global alternative asset manager The Carlyle Group. Financial terms of the deal were not disclosed.
Service King founder Eddie Lennox will retain a significant minority ownership position in the company and CEO Cathy Bonner will become chairman, representing Lennox on the board of directors.
Lennox founded Service King 36 years ago with one location in Dallas. It has grown to nearly 50 location through a combination of opening new locations organically as well as through the acquisition of complementary locations.