The Mufflerman Inc. Acquires EuroMechanic
TORONTO, Nov. 14, 2023 /CNW/ - The Mufflerman Inc. ("The Mufflerman"), a portfolio company of Argyle Capital Partners, has acquired 5 automotive car repair and tire locations in the Greater Toronto Area and Guelph from Carflex, Inc ("Carflex Capital"). The transaction closed on November 3rd, 2023.
The 5 locations operate under the EuroMechanic brand umbrella and are co-branded with their individual names, Bloor West Auto, in Mississauga, Brock Road Garage in Guelph, McDermott Motors in Toronto, McNally Auto in North York, and Redline Automotive in Scarborough.
EuroMechanic specializes in the repair, service and tires for European automobiles. EuroMechanic will continue to operate as a distinct division within The Mufflerman.
Costa Haitas, President of The Mufflerman, said: "We were drawn to EuroMechanic's business model, because of it's operations, and the similarity in their employee engagement and customer service to that of The Mufflerman. The combination of EuroMechanic's scale and niche expertise combined with our supplier and vendor relationships, will provide customers with even greater savings, options and service. We are excited about adding these amazing locations to our network, some of which have been around for 40 years."
Founded in 1964, The Mufflerman is a leading auto repair shop network operating throughout the Greater Toronto Area and Southwestern Ontario. The network boasts 28 locations, 18 of which operate as corporate-owned locations, through 3 different brands including The Mufflerman, EuroMechanic and Fleet Specialties, as well as 10 franchised locations under the Superior Tire & Auto brand.
https://themufflerman.com/
Founded in 2016, Argyle Capital Partners is a Toronto-based private equity firm focused on partnering with family-owned businesses in the lower middle market. Argyle traditionally focuses on old economy, industrial products businesses within service, manufacturing, and distribution.
www.argylecapital.ca
Founded in 2017, Carflex Capital is a small, hands-on private equity company that invests in lower and mid-market companies across Ontario. With our roots in the automotive industry, we have expanded to include investments in equipment rental, light manufacturing, and industrial distribution.
www.carflexcapital.ca
SOURCE The Mufflerman Inc.
Glenn Gatcliffe, Partner, Argyle Capital 416-388-2644, Mark MacPherson, Co-Founder, Argyle Capital 647-993-524
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