Transit Inc. of Levis, Que., has received a minority share investment from Trivest Partners of Coral Gables, Fla., a private equity firm that focuses on family and founder-owned businesses.
Transit is one of the largest auto parts suppliers and distributors in eastern Canada. Headquartered in Levis, Quebec, the company supplies more than 17,000 parts in undercar categories such as brakes, chassis and suspension.
It services more than 1,000 customers including auto parts retailers, jobbers, online distributors and wholesalers through its eight warehouses located in Quebec, Ontario, Newfoundland, New Brunswick and Nova Scotia.
Transit tripled the size of its main distribution facility to 150,000 square feet in 2020 and in February 2021 announced its acquisition of Montreal-based Unitool, which specializes in the distribution of hand tools, toolboxes and equipment for the automotive, industrial and construction sectors.
According to Trivest, the partnership is focused on helping Transit and its management team accelerate their growth plans.
Schwartz Advisors serves as advisor to Trivest in the investment in Transit.
“This is another example of Schwartz Advisors’ unique ability to guide investors as they assess markets and acquisition targets,” said Schwartz Advisors Managing Partner Rick Schwartz. “We thank Trivest for their trust in us and look forward to seeing great things out of their new partnership with Transit.”
The minority share acquisition will serve as a new platform for Trivest within its Growth Investment Fund II, the firm’s non-control investment strategy. Trivest helps founder-owned companies grow and evolve in several markets, including healthcare, consumer/retail, manufacturing, technology, business services and value-added distribution.
Schwartz Advisors Partner Tony Cristello led the SA team, which included Managing Partner Derek Kaufman and Partners Dave Peace and Bruce Tartaglione.
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