SeaFort Capital announces majority investment in Parts for Trucks, Inc.
by CM Staff
The partnership will focus on continuing Parts for Trucks' growth strategy by introducing new products and services and pursuing expansion within Canada.
HALIFAX — On June 2, SeaFort Capital announced that it has made a majority investment in Parts for Trucks, Inc. Based in Dartmouth, Nova Scotia, Parts for Trucks is an 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.
Corey Miller, CEO of Parts for Trucks, commented, “Our executive team chose to partner with SeaFort given their strong values and proven track record of successfully growing companies. 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”.
Rob Normandeau, SeaFort’s Managing Partner & President, commented, “This is the first platform investment for SeaFort Capital Fund II and represents the type of Canadian mid-market investment we target. 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.