Source: CollisionWeek

Suncorp’s Insurance Ventures investment subsidiary is reported to be exploring the sale of its majority stake in Australia’s second largest collision repair chain.

The Australian Financial Review reported that the Suncorp Group’s Insurance Ventures investment arm is considering the sale of its majority ownership position in the Capital SMART repair chain.

According to the article, Capital SMART, with over 40 locations in Australia and New Zealand, had AU$290 million ($211.5 million) revenue in the year to June 30, 2017, according to its most recent accounts filed with the corporate regulator, which was up from AU$243 million ($177.2 million) in 2016… read more on the CollisionWeek website