VIPAR Heavy Duty founding stockholder Parts for Trucks, Inc. has partnered with private equity firm SeaFort Capital to accelerate their growth strategies. SeaFort Capital announced its majority investment in Parts for Trucks earlier this month. Based in Dartmouth, Nova Scotia, Parts for Trucks is the largest independent heavy-duty aftermarket parts distributor and provider of truck and equipment service in Atlantic Canada. The company operates a network of 16 locations across Atlantic Canada and in Ontario.
“Our executive team chose to partner with SeaFort given their strong values and proven track record of successfully growing companies,” said Corey Miller, CEO of Parts for Trucks. “We are very excited to work with the SeaFort team to pursue strategic growth, which will provide exciting opportunities for our staff and allow us to further enhance and broaden the strong support we currently provide to our valued customers.”
“This is the first platform investment for SeaFort Capital Fund II and represents the type of Canadian mid-market investment we target,” said Rob Normandeau, SeaFort’s managing partner & president. “We are pleased to invest in a long-established, successful Atlantic Canadian-based business and excited to partner with a strong, proven management team and company as they continue to execute on a well-delineated growth strategy.”
The partnership will focus on continuing Parts for Trucks’ growth strategy by introducing new products and services and pursuing expansion within Canada through greenfield initiatives and strategic acquisitions. The existing senior leadership team will continue to drive the business following the investment by SeaFort.
“This partnership provides exciting opportunities for the Parts for Trucks team and is an example of a successful strategic investment relationship that continues to fuel the growth of the VIPAR Heavy Duty network,” said Chris Baer, president & CEO of VIPAR Heavy Duty. “A group can only be as strong as the sum of its distributors, and the good news is that ours are great!”
For more information on VIPAR Heavy Duty, visit www.vipar.com
