Businessmen quietly consolidating Kelowna collision repair shops – Okanagan
Auto collision restore is huge enterprise. There are a few dozen retailers in Kelowna, most working as small, personal corporations.
However Mark Reineking and his associate, Brad Kopp, hope to at some point personal a majority of them. They personal an organization known as the Carry Auto Group.
“Carry Auto Group is an organization that we based to begin consolidating collision restore corporations throughout Canada,” stated Reineking, Carry Auto Group president.
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They’re within the course of of shopping for collision restore retailers and to date have acquired three excessive profile corporations: Kelowna Efficiency Collision, Springfield Auto Physique and Mark V Auto Physique. They may function below the banner of CSN Collision Centres.
Reineking says the timing was proper.
“The truth that numerous the present owner-operators are on the lookout for a succession plan, it’s excellent timing for us to get out and be a consolidator within the open market,” stated Reineking.
Carry Auto Group says the most important problem the business is dealing with proper now could be maintaining with expertise and coaching, and amalgamating retailers will assist accomplish that.
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In fact, shopping for up many of the auto physique retailers on the town takes cash. And Carry Auto Group is getting assist from a model new fund made up of banks and insurance coverage corporations known as the Canadian Enterprise Development Fund — a primary for the CBGF.
“We admire the power to make our first funding in Kelowna,” stated Rossolatos of CBGF. “As you won’t have appreciated, we’re model new as a fund. We launched on June 19 and we’re actually proud that our first deal is in B.C.”
The CBGF’s deal is price $15 million — no tax concerned.
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