#Canada #Winnipeg #Credit Facilities #Boyd Group #Joe Hudson

Boyd Group Services Inc. Enhances Credit Facilities

Introduction
On December 9, 2025, Boyd Group Services Inc. (TSX: BYD; NYSE: BGSI), renowned for its extensive operations in the auto repair sector, announced significant amendments to its existing credit facilities. This strategic move aims to substantially boost its financial capacity, particularly as the company continues its aggressive growth strategy, including the acquisition of Joe Hudson's Collision Center.

Key Details of the Amendment

The amended credit facilities are impressive, increasing the total revolving credit available to an initial $675 million, with an accordion feature that allows the sum to expand to a maximum of $1.075 billion. This flexibility is particularly beneficial in financing acquisitions and supporting operational capabilities. The new terms are structured to provide more favorable pricing, enhancing overall financial agility while maintaining the existing maturity date set for August 2030.
Simultaneously, the existing $125 million Term Loan A, which is due in March 2027, continues unchanged, illustrating a balanced approach in managing both new and existing debt.

Lending Institutions Involved

The amended facilities see participation from key financial institutions, including The Toronto-Dominion Bank, National Bank of Canada, and Royal Bank of Canada, acting as co-lead arrangers and lenders. Other lenders involved in this arrangement consist of Bank of America, The Bank of Nova Scotia, and Canadian Imperial Bank of Commerce. This robust consortium not only enhances the financial support available to Boyd Group but also underscores the confidence of these banks in Boyd's strategic direction and growth potential.

Financing the Acquisition

Boyd Group intends to leverage these enhanced credit facilities in conjunction with proceeds from recent offerings of common shares and senior unsecured notes to finance the acquisition of Joe Hudson's Collision Center. This acquisition aligns with Boyd's vision of expanding its footprint in the North American collision repair industry, which is characterized by strong competitive advantages and significant growth opportunities.

Understanding Boyd's Industry Position

The Boyd Group, via its subsidiaries, stands as one of the largest operators of non-franchised collision repair centers in North America, boasting a vast number of locations and substantial sales figures. Within Canada, it conducts business under the trade names Boyd Autobody & Glass and Assured Automotive, while in the United States, it operates as Gerber Collision & Glass. Additionally, Boyd has established itself in the retail auto glass sector through various brands, including Glass America and Auto Glass Service.

Conclusion

The recent amendments to Boyd Group's credit facilities mark a pivotal moment for the company, enhancing its ability to maneuver within the competitive landscape of the auto repair industry. As the acquisition of Joe Hudson's Collision Center progresses through the necessary closing conditions and regulatory checks, the strategic foresight of Boyd Group continues to position it favorably for future growth and expansion. This move not only reflects the company’s robust financial health but also its readiness to capitalize on market opportunities as they unfold, ensuring sustained profitability and operational excellence moving forward.

Caution Regarding Forward-Looking Statements
Forward-looking statements made in the announcement serve to illuminate the company’s expectations yet remain subject to various uncertainties. Management advises stakeholders to consider the risks outlined in the company's periodic filings to fully grasp the potential impacts on future events and results.