Banyan Capital Partners buys specialty retailer Rack Attack
Canadian private equity firm Banyan Capital Partners has acquired a majority interest in Rack Attack Products Ltd, a Vancouver-based retailer focused on the sale, installation and servicing of automotive racks and hitches. No financial terms were released for the deal, which will facilitate the retirement of Chris Sandy, owner of Rack Attack since its founding in 1996. Key executives, including Graeme Paterson, the company's new president, will also invest. Banyan Managing Director Jeff Wigle said his firm's investment will back Rack Attack's plan to grow across North America and enter new markets. Banyan is an affiliate of Connor, Clark & Lunn Financial Group.
5 September 2017•3 mins read
