Boyd Group Increases Credit Facilities to $675 Million for Joe Hudson Acquisition
Written by Emily J. Thompson, Senior Investment Analyst
Source: PRnewswire
Updated: 1 day ago0mins
- Credit Facility Increase: Boyd Group has increased its revolving credit facilities to $675 million, with the potential to expand to $1.075 billion, which will support the acquisition of Joe Hudson's Collision Center and enhance the company's competitive position in the North American market.
- Optimized Financing Structure: The amendments provide more favorable pricing and flexibility while maintaining the existing maturity of August 2030, ensuring the company's financial stability over the coming years.
- Acquisition Progressing: The company plans to partially draw on the amended facilities and utilize proceeds from its recently completed common share and senior unsecured notes offerings to finance the acquisition, demonstrating a proactive approach to business expansion.
- Diverse Lending Institutions: The credit facilities involve major financial institutions such as Toronto-Dominion Bank and Royal Bank of Canada, which not only enhance the company's financing capabilities but also bolster its credibility in the capital markets.
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Analyst Views on BGSI
Wall Street analysts forecast BGSI stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BGSI is 205.03 USD with a low forecast of 198.88 USD and a high forecast of 210.45 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
6 Buy
0 Hold
0 Sell
Strong Buy
Current: 165.370
Low
198.88
Averages
205.03
High
210.45
Current: 165.370
Low
198.88
Averages
205.03
High
210.45
No Data
About BGSI
Boyd Group Services Inc. is a Canadian company that controls the Boyd Group Inc. and its subsidiaries (Boyd). The Company's business consists of the ownership and operation of autobody/auto glass repair facilities and related services. It operates through the automotive collision repair and related services segment. Boyd is an operator of non-franchised collision repair centers 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 United States under the trade name Gerber Collision & Glass. It is also a retail auto glass operator in the United States under the trade names Gerber Collision & Glass, Glass America, Auto Glass Service, Auto Glass Authority and Autoglassonly.com. In addition, Boyd operates as a third-party administrator, Gerber National Claims Services (GNCS), that offers glass, emergency roadside and first notice of loss services.
About the author
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Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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What is the purpose of Boyd Group increasing its credit facilities?
How will the acquisition of Joe Hudson's Collision Center benefit Boyd Group?
What impact will the increased credit facilities have on Boyd's market position?
How might Boyd Group's financial stability influence its future expansion plans?