Lift Auto Group (“Lift” or the “Company”), a consolidator of Canadian collision repair centres is pleased to announce it has raised additional growth capital to support its expansion and acquisition strategy for the foreseeable future. Lift currently has eleven CSN Collision Centres locations across British Columbia, Alberta, and Saskatchewan. Bolstered by the recent capital raise, the Company will execute on its strategy to expand its footprint across the rest of Canada.
Led by Lift Auto Group President & CEO, Mark Reineking, the Lift management team brings a sophisticated operating approach to an increasingly complex industry. This creates a unique opportunity for well-capitalized and well-managed consolidators like Lift to acquire, and integrate, smaller operators thereby adding the scale to properly address industry demands. “We’re excited to play a key role in assisting Canadian owner/operators to transition their businesses, ensuring they retain their leadership position in the communities they service,” Reineking said.
As Lift adds CSN Collision Centres in open territories, CSN secures valuable market share. “Our partnership with Lift will continue to benefit both organizations as they contribute to the growth of our network,” commented CSN Collision Centres President & CEO, Ryan Bruno. “We have a number of solutions in place to accomplish the objective of providing an option to collision centre owners who are looking to sell their business.”
Despite the economic challenges brought on by the pandemic, market leading companies like Lift and CSN have been committed to executing their respective business plans. “Along with CSN Collision Centres and our capital partners, Lift is ideally positioned to embark on the next phase of our growth and realize our vision of being the leading collision repair consolidator and operator across Canada,” Reineking said.
PFM Capital Inc., on behalf of the APEX III Investment Fund Limited Partnership completed the strategic investment in Lift, with the Canadian Business Growth Fund, a current investor, participating on a follow-on basis in continued support of the Company. ATB Capital and Raymond James jointly marketed the opportunity and acted as Lift’s advisors in this growth capital raise.
About Lift Auto Group
Based in Kelowna, B.C., Lift Auto Group, its founders, and executive team possess the diverse skill set necessary to become one of Canada’s largest multi-store collision brands. Lift’s team has a family history in collision repair spanning decades and brings a sophisticated approach, relating to both technical expertise and business acumen, to the increasingly complex collision repair industry. Lift Auto Group currently has eleven locations in British Columbia, Alberta, and Saskatchewan, with plans to expand across Canada. Lift is proud to partner with Canada’s market leading collision repair network, CSN Collision Centres, and brands all of its locations as such. Interested parties can contact Koos Reineking at firstname.lastname@example.org.