Palladium Equity Partners has agreed to sell ABRA Auto Body & Glass to Hellman & Friedman and members of company management. The deal, rumored to be around $500 million, is expected to close in 2014’s third quarter. Founded in 1984, ABRA is a damaged vehicle repair provider with 186 company-owned centers and 48 franchised centers in 19 U.S. states. Palladium, which closed a $1.14 billion fund in April, had acquired ABRA in late 2011. Last summer, the firm completed recaps of portfolio companies including ABRA, which allowed it to distribute around $58 million to investors in Palladium Equity Partners III.