Caisse de dépôt to back Fix Auto's buy of Prime CarCare

Fix Auto Canada has agreed to acquire Prime CarCare Group Inc, a Markham, Ont.-based operator of 142 franchise locations in Canada under different automotive brands, including Speedy Auto Service. No financial terms were released. Fix Auto Canada, a Montréal-based network of body shops, said the acquisition prepares it for horizontal integration across the automotive repair network. The deal, which is expected to close within 30 days, will be funded in part by Fix Auto Canada's minority equity partner: the Caisse de dépôt et placement du Québec. The value of the Caisse's investment was not published.

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