By CRM staff
Kelowna, BC -- October 4, 2018 -- Lift Auto Group is an emerging consolidator of automotive collision repair centres in the British Columbia region with six locations there and in Alberta.
The Canadian Business Growth Fund (CBGF) has made its first investment of 15 million dollars to help Lift with its plans to expand across western Canada. According to CBGF, a portion of the investment has allowed the company to close a significant acquisition in Edmonton.
“Our partnership with CBGF will provide us with the long-term, patient capital we need to embark on our next phase of growth while still retaining control of our business,” says Mark Reineking, Lift's CEO and president. “Strategic and cultural alignment is a priority for us, and we believe the common values shared by both parties will serve as the basis for a strong and successful relationship, allowing us to maximize value for our stakeholders and the communities in which we invest.”
“Lift is a great fit with our mandate and we are excited to partner with them as they put their growth strategy into action,” said George Rossolatos, chief executive officer, Canadian Business Growth Fund. “They have an ambitious team, solid plans for scaling up and the skills and experience to execute on their vision. They are thinking big, and with this round of investment, they have capital."
Headquartered in Kelowna, BC, Lift was founded by a group of entrepreneurs in B.C. who continue to work in the day-to-day operations of the corporation. The CEO and president is Mark Reineking and COO is Michael Schurink.