VIPAR Heavy Duty founding stockholder Parts for Trucks Inc. has partnered with private equity firm SeaFort Capital to accelerate their growth strategies. Based in Dartmouth, Nova Scotia, Parts for Trucks is the largest independent heavy-duty aftermarket parts distributor and provider of truck and equipment service in Atlantic Canada.
According to the company, Parts for Trucks partnered with SeaFort for their similar values and previous growth success.
“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," said Corey Miller, CEO of Parts for Trucks.
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.
“This partnership provides exciting opportunities for the Parts for Trucks team and is an example of a successful strategic investment relationship that continues to fuel the growth of the VIPAR Heavy Duty network,” Chris Baer, President & CEO of VIPAR Heavy Duty, said. “A group can only be as strong as the sum of its distributors, and the good news is that ours are great.”