The Mufflerman Inc., a now former portfolio company of Argyle Capital Partners Management, has undertaken a recapitalization and rebranding, culminating in the creation of the ASG Auto Service Repair Group as well as the exit of Argyle from the investment.
Financial terms of the deal were not disclosed.
The recapitalization was led by the existing operational management team of Glenn Gatcliffe (director) and Costa Haitas (president), who will continue to provide leadership to The Auto Service Group.
The transaction was financed by original investors, participation of new investors and with the support of Toronto-Dominion Bank and BDC Capital Inc.
The Auto Service Group consists of six brands and 29 locations across Ontario focused on the service and repair of cars, light vans, trucks and fleets. All individual brands — The Mufflerman, Superior Tire & Auto, Fleet Specialties, EuroMechanic, Sil’s Auto Service and 4 Aces Auto Centre — will continue operations with no changes.
“We are thrilled to be entering a new stage in our growth and evolution. Over the last 4.5 years, Argyle Capital Partners have provided tremendous strategic vision and leadership,” Haitas said. “Along with our entire team of over 155 employees, Glenn and I would like to thank Argyle, and we look forward to continued success in building The Auto Service Group into one of the preeminent automotive aftermarket companies in Canada.
“We are well-positioned to continue our M&A strategy, integrating new businesses into our purpose-built operational and capital infrastructure.”
