The Canadian Business Growth Fund has made its first investment of $15 million in Lift Auto Group to support the company’s consolidation strategy in the auto collision repair industry in Western Canada.
Target Information
The Canadian Business Growth Fund (CBGF) has successfully closed its inaugural investment in Lift Auto Group, based in Kelowna, British Columbia. CBGF provided $15 million to support Lift's objective of consolidating the auto collision repair industry in Western Canada. In exchange, CBGF has gained a minority ownership stake in Lift and secured a board seat to offer strategic advice and leverage its extensive network.
Lift Auto Group currently operates seven auto collision repair shops across Western Canada, including three located in Kelowna. The company aims to expand its footprint by acquiring an additional 8 to 10 shops annually in the region. Following the investment from CBGF, Lift quickly progressed by closing a significant acquisition in Edmonton shortly thereafter and another in Victoria within a month, signifying a strong start to its growth strategy.
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Industry Overview
The auto collision repair industry in Canada plays a crucial role in the overall economy, particularly within the small-to-medium enterprise (SME) sector. SMEs account for 99.7% of all businesses in the country and employ appr
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Canadian Business Growth Fund
invested in
Lift Auto Group
in 2023
in a Growth Equity & Expansion Capital deal
Disclosed details
Transaction Size: $15M