Canadian Business Growth Fund makes Lift Auto its debut deal
Canadian Business Growth Fund (CBGF) has invested $15 million of minority capital in Lift Auto Group, a Kelowna, British Columbia-based owner and operator of a network of automotive collision repair centres. The deal will support Lift's growth strategy in Western Canada, which includes acquiring small operators in the collision repair industry. A portion of CBGF's investment allowed the company to acquire an Edmonton operator. Lift is led by President and CEO Mark Reineking. It is the debut deal of CBGF, a Toronto-based provider of equity and debt financing to Canadian mid-market companies. The fund launched this year with $545 million in commitments from 13 financial institutions.
2 October 2018•3 mins read
