[Stay on top of transportation news: Get TTNews in your inbox.]
Vipar Heavy Duty founding stockholder Parts for Trucks Inc. announced it partnered with private equity firm SeaFort Capital to accelerate growth strategies.
Canada-based SeaFort Capital announced its majority investment in Parts for Trucks in June.
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.
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 company reported. 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,” Chris Baer, CEO of Vipar Heavy Duty, said in a release.
Crystal Lake, Ill.-based Vipar Heavy Duty is a network of independent aftermarket truck parts distributors with 700 locations across the United States, Canada, Puerto Rico and Mexico. — Transport Topics
Want more news? Listen to today's daily briefing below or go here for more info: