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Cision Canada
3 hours ago
- Cision Canada
Leith Wheeler Investment Counsel Establishes Montréal Office, Hires Industry Veterans Eric Desbiens and Denis Durand Français
MONTRÉAL, Aug. 13, 2025 /CNW/ - We are pleased to announce that Eric Desbiens has joined the firm to build and lead a team in the firm's new Montréal office. His first hire is former colleague and regular financial news commentator, Denis Durand, who joins as a Senior Advisor. Leith Wheeler CEO, Jim Gilliland, said "Québec has a long history of supporting independent investment managers and we are committed to broadening our ability to service clients in this important market. While we already manage assets for several of the largest institutional clients in Québec, our first priority in expanding our presence was bringing on partners who understand the unique needs and preferences of Québec-based clients, and have the knowledge and reputation for integrity that are central to our firm. Eric and Denis fit these requirements perfectly." He added, "This just marks the beginning of Leith Wheeler's commitment to Québec. There is a deep pool of investment talent in the province, across both client-facing and research functions, and we look forward to growing our footprint." Eric Desbiens spent the last 25 years working with individual and institutional clients at Jarislowsky Fraser, and was a Partner when the firm was sold to Scotiabank in 2018. He most recently led their Québec and Atlantic institutional business – which included many prominent not-for-profits and religious organizations – and looked after a large book of high-net-worth clients. Leanne Scott, Managing Principal, Portfolio Manager – Head, Private Clients, said "With his long experience working with both individuals and institutions, Eric is a well-known and respected member of the Québec investment community and we are very excited about the great work we will be able to do together. What was also important to us is that he not only has an excellent professional reputation, but he brings shared values to ours including a commitment to both his clients and to his community." "I am thrilled to join Leith Wheeler, a firm that is so clearly committed to the absolute best results for its clients," Eric said. "The fact that the firm is 100% owned by its employees meant a lot to me when deciding to join. That independence means that every decision we make can put client interests first, without having to satisfy outside stakeholders – so when our clients win, we win. It's clear as well that Leith's vibrant culture which values teamwork, innovation, and service and will make it a great place to work. I look forward to building the team in Montréal." Denis Durand will bring the experience of a distinguished career to his role as Senior Advisor, having retired from Jarislowsky Fraser in 2022 after a total of 36 years with the firm. Denis was previously an economist with the Québec Ministry of Government Affairs, a stock analyst with La Caisse de dépôt et placement du Québec, and served as President and CIO of GenTrust (later sold to National Bank). He also co-founded the Association des économistes québécois and returned as its president (2014-2015), served on the board and investment committees of Via Rail (2008-2017) and CARE Canada (2003-2015), and was the honorary lieutenant-colonel of the Regiment de Maisonneuve, the flagship regiment of the city of Montréal (2009-2012). He continues to be a regular contributor to print and broadcast media in Québec. "Denis is an excellent communicator and connector, and I am excited to draw on his experience in building the Québec office," Eric said. "Having worked together for over 20 years, I know he has earned his exemplary reputation and appreciate the value he will bring to the team". Eric, Denis and other Leith Wheeler management will be hosting a webinar in both English and French on September 4, 2025 to provide an overview of the firm for Quebec-based clients. Anyone is welcome to attend - see or for details. About Leith Wheeler Investment Counsel Ltd. Founded in 1982, Leith Wheeler is an independent, employee-owned, client-focused investment manager that manages over $30 billion on behalf of individual investors, foundations, endowments, Indigenous communities, advisors, pensions and other institutional clients across Canada. With offices in Vancouver, Calgary, Toronto, and now Montréal, the firm offers a full suite of investment solutions, including publicly traded equity and debt strategies, along with a series of private asset funds. Leith Wheeler is also active in communities across the country, including serving as national partner for Vital Signs for Community Foundations of Canada, building financial capacity within Indigenous communities and organizations, and supporting not-for-profit organizations through donations of both money and time. SOURCE Leith Wheeler Investment Counsel Ltd.
Cision Canada
4 hours ago
- Cision Canada
The Mufflerman Inc. announces recapitalization and rebranding
TORONTO, Aug. 13, 2025 /CNW/ - The Mufflerman Inc., a portfolio company of Argyle Capital Partners Management Inc. ("Argyle") has undertaken a recapitalization and rebranding, culminating in the creation of ASG Auto Service Repair Group Inc. ("The Auto Service Group") and an exit of Argyle from the investment. 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.
Cision Canada
4 hours ago
- Cision Canada
Argyle announces successful exit of its investment in The Mufflerman
TORONTO, Aug. 13, 2025 /CNW/ - Argyle Capital Partners Management Inc. ("Argyle") today announced the successful exit of its investment in The Mufflerman ("Mufflerman" or the "Company"), a leading automotive repair and maintenance provider, to ASG Auto Service Repair Group Inc. The transaction marks the conclusion of a highly successful 4.5-year investment, during which Argyle and its investor group generated, net of fees, a ~5x multiple of invested capital ("MOIC") and a ~45% internal rate of return ("IRR"). Mufflerman, based in London Ontario, operates a network of automotive repair locations under multiple banners across the province. Founded over 60 years ago, the Company has built a reputation for high-quality service and trusted local relationships. Argyle initially acquired the platform in early 2021. Over the hold period, Mufflerman evolved into one of Ontario's leading multi-store operators in the automotive aftermarket. The transformation was driven by a focused buy-and-build strategy, disciplined operational upgrades, and a capital structure purpose-built for growth. The Company benefitted from its senior leadership team, led by Costa Haitas and Argyle partner, Glenn Gatcliffe, who spearheaded efforts to professionalize operations, improve margin performance, and integrate new locations. As part of its M&A strategy, Argyle completed five tuck-in acquisitions, financed on balance sheet, enabling the business to triple its EBITDA during the investment period. "We're incredibly proud of what was accomplished with Mufflerman," said Mark MacPherson, Co-Founder and Managing Partner at Argyle. "This transaction is a clear example of Argyle's ability to identify and scale regional leaders through thoughtful M&A, hands-on operational support, and disciplined capital management. The Company is well-positioned for continued growth under its new ownership." About Argyle Founded in 2016, Argyle 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.
