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boydgroup.com
Company Profile
Investor's information
Who we are
The Boyd Group Inc. ("Boyd") is a publicly traded company listed on the
Winnipeg Stock Exchange (trading symbol BYD.A) which operates
principally as Boyd Autobody & Glass, a growing chain of 39 collision
centres located in Manitoba, Saskatchewan, Alberta and British Columbia.
In Manitoba Boyd operates 10 wholly-owned locations as well as 2
locations which are joint ventures with the Megill-Stephenson Company
Limited.
Boyd's first 4 Saskatchewan locations have been opened in 1998 and
plans are under way to open more shops there in the near future.
In Alberta, Boyd operates 4 Edmonton bodyshops known as Imperial
Collision, as well as 3 collision centres located in Red Deer and Olds
Alberta that are known as Central Alberta Collision or CAC
In British Columbia we operate seven wholly-owned locations and one
joint venture location. We also provide assistance and direction to
independently owned Boyd Autobody and Glass franchises.
Our Industry
The collision repair industry in North America is in the very early stages of
consolidation. At present, this 30 billion (U.S.) dollar industry is highly
fragmented, consisting primarily of small, independent, family owned
businesses operating in local markets.
Boyd is advised that there are between 55,000 and 60,000 collision repair
shops in North America, with less than 15% of these having annual sales in
excess of $1,000,000.
There is currently no national chain of collision repair shops under common
ownership in either Canada or the United States, nor is there a dominant
industry participant.
Our Opportunity
At Boyd our plan is to be a leader in the consolidation of the collision
repair industry by building a chain of upscale, quality-oriented collision
repair shops.
It is Boyd's strategy to enter major urban markets and through the
establishment of multiple locations, become the dominant industry
participant within two to three years.
A dominant market position with multiple locations contributes to
significant synergistic cost savings, particularly in areas of advertising and
parts and materials purchasing.
Since its inception in November 1990, Boyd has been successful in
establishing a leading market position in Manitoba and British Columbia,
and is evolving towards that position in the Saskatchewan and Alberta
markets.
Our Achievements
At Boyd we strive to be progressive and innovative managers. For three
consecutive years Boyd has been chosen by Arthur Anderson & Company
(an international firm specializing in accounting, auditing and consulting) as
one of Canada's 50 Best Managed Companies.
The award criteria includes financial performance as well as the effective
use of best management practices including corporate vision, staff
incentives, training programs, strategic partnering, customer service levels,
etc.
There are 700-800 nominees for this award annually.
Boyd has also recently obtained ISO 9002 registration for its location at
120 King Edward Street East in Winnipeg, Manitoba. This location is now
one of the first autobody businesses in North America to have achieved
ISO certification.
Our Difference
Here are some of the ways that Boyd is different from our competition:
In contrast with the collision repair business in general, Boyd
operates upscale, customer service and quality-oriented
multi-locations.
Boyd represents one of very few companies owning and operating
shops in more than one province.
Multiple locations contribute to significant cost synergies.
Pooled advertising contributions create larger, more sophisticated
advertising campaigns which creates competitive advantage over the
competition.
Boyd enjoys leverage in the buying of parts, paint, materials,
supplies etc.
All locations are clean, bright and modern facilities located in
convenient retail areas.
Boyd uses satellite locations to enhance customer service and as a
result gains efficiency in the utilization of capital assets.
Staff are trained extensively in customer service and quality control.
Boyd maintains a strong commitment to training at all levels of the
organization.
Repairs are backed by a Lifetime Guarantee.
Customer satisfaction is Boyd's #1 priority.
We systematically monitor customer satisfaction by contacting
customers within 30 days after service. They are asked to score us
on quality, service and speed.
All management have a significant part of their compensation tied to
CSI(Customer Satisfaction Index).
Joint Ventures
Boyd operates two joint- venture bodyshops in Winnipeg, Manitoba with
the Megill Stephenson Company Limited. Megill is a private company with
sales and assets of approximately C$150 mil. and C$120 mil. respectively.
The principal and major shareholder of Megill is Mr. Robert Chipman, a
highly regarded Canadian businessman who holds (or has held) several
prominent directorships, including the Royal Bank of Canada and who
now sits as a member of the Board of Directors of Boyd.
Strategic Alliances
Boyd is a preferred supplier of collision repairs to Canada's largest and
best known fleet and leasing companies. By maintaining close contact with
decision makers within the fleet and leasing industry, Boyd has been able
to develop a number of innovative processes which have positioned the
company as the collision repair provider of choice for companies which
control over 200,000 vehicle leases across Canada.
In British Columbia, where private insurance companies compete with
(ICBC), Boyd has developed mutually advantageous relationships with a
number of private insurers. These partnerships provide the insurer with the
confidence to recommend Boyd shops to their clients, knowing they will
receive the highest level of quality and service.
The Future
Boyd intends to continue expansion throughout Western Canada through
the acquisitions of high quality, profitable collision repair businesses. While
acquisition prices may exceed the costs of ‘start up' locations,
management believes these increased costs are more than offset by
reduced risk and enhanced and accelerated profitability.
Thank you for your interest in Boyd Autobody + Glass and The Boyd
Group Inc.
For more information contact your broker or email us at
info@boydgroup.com. |
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