Fix Auto moves into glass
Fix Auto World has agreed to purchase the assets of 11 glass and automotive aftermarket companies, previously owned by the Skidmore Group.
Through the acquisition, Fix Auto World will purchase the assets of Novus Glass Inc; Novus Franchising Inc; Speedy Auto Glass USA Inc; TCGI Australia PTY Ltd; TCGI (Jersey) Ltd; Novus Inc; Windshields.Com Inc; Transamerica Glass Inc; Splashes Auto Spa Inc; Shat R Proof Corp; and Windshield Doctor Canada Ltd.
‘By acquiring the assets of these companies and combining them with our existing Fix Auto network, we are creating the opportunity to provide complete automotive aftermarket services to our customers and partners all over the world,’ said Steve Leal, president and CEO of Fix Auto World.
‘We will be growing our network by over 1,200 franchise, corporate and affiliate locations worldwide, raising the Fix Auto network’s global numbers to over 2,000 franchise, retail, repair, affiliate, distribution and manufacturing locations globally in over 40 countries. This underscores our commitment to forming a comprehensive aftermarket solution for consumers and is sure to create entrepreneurial opportunity for our franchisees to grow and develop their businesses.’
Since 2015, Caisse de dépôt et placement du Québec has worked with Fix Auto to stimulate its growth in new markets around the world. With this third investment in under two years, la Caisse is supporting Fix Auto as it diversifies its services.
‘Since our first investment, the company has tripled its number of franchises and developed five new markets. With its innovative business model and an agile management team that has demonstrated its strong ability to seize business opportunities, Fix Auto is now well-positioned to become a global leader in its industry,’ said Christian Dubé, executive vice-president, Québec at la Caisse. ‘Given this success, in Québec and internationally, it made sense to invest once again in Fix Auto to facilitate its expansion.’
The acquisition is expected to close on 28 April.