Lift Auto Group announced 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.
“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,” said Lift Auto Group President & CEO, Mark Reineking.
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.