The Mufflerman Inc. announces recapitalization and rebranding
The Mufflerman was built through six acquisitions and now consists of six brands, 29 locations across Ontario and is focused on the service and repair of cars, light vans, trucks and fleets. Going forward the group will be rebranded to Auto Service Group with all individual brands continuing operations with no changes.
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.
Costa Haitas, President of The Auto Service Group said, "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. 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."
About Auto Service Group:
About Argyle Capital Partners:
Founded in 2016, Argyle Capital Partners is a Toronto-based private equity firm focused on partnering with family-owned businesses in Canada's lower middle market. Argyle invests in traditional businesses in industrial products, manufacturing, distribution, and business services.
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