Boyd Group Services (BYD) Investor presentation summary

Market position and industry overview

• Second largest collision repair operator in North America, with over 1,300 locations across 37 U.S. states and 6 Canadian provinces.

• Holds approximately 8% market share in a highly fragmented $48B U.S. collision repair industry.

• Top three player in the U.S. retail glass industry, present in 39 states.

• Industry remains fragmented, with 23,200 single-location operators and 770 independent MSOs.

• Significant consolidation and efficiency opportunities remain due to market fragmentation.

Growth strategy and long-term goals

• Targets 3-5% annual same-store sales growth and 5-7% annual new location growth.

• Aims for over $5B in revenue, 1,400+ units, and $700M+ adjusted EBITDA with margins above 14%.

• Pursues growth through acquisitions, start-ups, and expansion into adjacent services like glass and calibration.

• Repeatable inorganic model and operational excellence are key strategic pillars.

• Joe Hudson's acquisition in Q1 2026 is additive to achieving long-term goals.

Joe Hudson's acquisition and synergy realization

• Acquisition expands footprint by ~25% with 258 new locations, strengthening presence in the U.S. Southeast.

• Expected to unlock $35-$45M in annualized synergies and enhance profitability.

• Synergies include procurement savings, network efficiencies, and internalization of scanning/calibration.

• Store maturation expected to add ~$24M in adjusted EBITDA.

• Synergy realization timeline: ~50% in 2026, ~85% by end of 2027, balance in 2028.