CPE News (12.16.2022) – Clearspring Capital Partners and OneLink Capital, with support of BDC Growth Equity Partners, have acquired majority stake Groupe Tecnic 2000 and École de conduite Tecnic Rive-Nord.
The transaction closed in November 2022. Financial terms were not disclosed.
Founded by the Sévigny and Aubé families in the 1980s, the Tecnic network includes 160 driving schools across the province of Quebec and more than 1,000 instructors. Groupe Tecnic is the largest network of driving schools in North America, serving more than 70,000 new students each year. Tecnic Rive-Nord represents the largest franchisee of Groupe Tecnic with 51 driving schools strategically located on the North Shore of Montreal, Laurentides, Mauricie and Outaouais.
Sévigny family will continue to be a major shareholder in the company. Mylène Sévigny (CEO), Isabelle Sévigny (VP Finance) and Mark Krump (Senior Strategic Advisor) will remain with the organization. Yvan Sévigny, founding president, will step down.
photo credit: Groupe Tecnic 2000
Clearspring Capital Partners and OneLink Capital invest in Groupe Tecnic and École de Conduite Tecnic Rive-Nord alongside one of the founding families.
MONTREAL, Dec. 16, 2022 /CNW/ – Clearspring Capital Partners (“Clearspring”) and OneLink Capital (“OneLink”) today announced an investment in Groupe Tecnic 2000 and École de conduite Tecnic Rive-Nord. Founded by the Sévigny and Aubé families in the 1980s, the Tecnic network now includes 160 driving schools across the province of Quebec and more than 1,000 instructors. Groupe Tecnic is the largest network of driving schools in North America, serving more than 70,000 new students each year. Tecnic Rive-Nord represents the largest franchisee of Groupe Tecnic with 51 driving schools strategically located on the North Shore of Montreal, Laurentides, Mauricie and Outaouais.
Mylène Sévigny (Chief Executive Officer), Isabelle Sévigny (Vice-President Finance) and Mark Krump (Senior Strategic Advisor) will remain with the organization, while the founding President, Yvan Sévigny, will step down. The Sévigny family will continue to be a major shareholder in the company.
“We will continue to lead the company with passion and focus on the Road Safety Education, a project that is close to our hearts and that could even extend outside Quebec,” said Mylène Sévigny and Mark Krump.
“Our family is proud to have built a Quebec flagship for the past 30 years and to have meaningfully contributed to the improvement of road safety, thanks to our affiliates, our employees and our partners” says Mr. Yvan Sévigny, Founder.
“We look forward to working with our new partners who share the same management values as our family.” says Isabelle Sévigny.
As for the Aubé family, cofounding and key partner of Groupe Tecnic since the 1980’s, they will proudly continue to operate their 30 Tecnic driving schools on the South Shore of Montreal.
“We are highly impressed by Tecnic’s growth, long-term relationships with its affiliates, and its ability to stand out in a highly competitive market. We have identified many opportunities for growth and are confident that this partnership will benefit customers, affiliates and employees alike.” said John Veitch, Principal at Clearspring Capital Partners. He adds that their investment has also been made possible thanks to the financial participation of BDC Growth Equity Partners.
For Tecnic, it was essential to count on the continuity of its management team and its network of affiliates while being provided with the expertise to match its ambitions. In order to achieve its growth plan, the management team will be strengthened with the onboarding of the two OneLink partners who will leverage their management expertise and relevant experience in the transportation and technology sectors for the benefits of Tecnic.
“With the Sévigny family, we share the same culture and the same ambitions to improve road safety in Quebec and to see the Tecnic brand shine even more in the country. We are glad to be joining a winning team to write the next chapter of Tecnic. We are very grateful for the trust and look forward to working with all stakeholders.” say Ronan Vandeputte and Marc Thibodeau (OneLink partners).
About Clearspring Capital Partners
Clearspring Capital Partners is a Canadian private equity firm that invests and acquires businesses through buyouts, growth financings, privatizations, industry consolidations, recapitalizations, and other types of transactions. The Clearspring team works closely with the management teams of their portfolio companies from its Montreal and Toronto offices to ensure value creation and the execution of their growth plans. Since 2015, Clearspring’s investments in Quebec have totaled more than $150 million. Investments in Régal Confections, Telecon, Demers Ambulances and Voyages Traditours have already delivered great results. In particular, these companies have made significant investments in Canada and abroad to conquer new markets and acquire competitors. For more information, see www.cscap.ca.
About OneLink Capital
OneLink Capital is a private equity firm based in Montreal (Quebec) that focuses on equity investments in SMEs. OneLink invests with a long-term horizon to enable their portfolio companies to reach their full potential. Entrepreneurs and serial investors for +20 years, OneLink team is personally committed to providing resources and know-how to achieve growth objectives. In line with its values, OneLink leverages the strong relationships with existing teams to ensure joint success. For more information, see www.onelinkcap.com
Founded in 1985, Tecnic is the largest network of driving schools in North America with more than 160 driving schools. Each year in Quebec, about 45% of driving students obtain their license thanks to Tecnic. The network holds a dominant position in the Quebec market thanks to its geographical reach and the development of an unparalleled brand image. For more information: tecnic.ca
SOURCE Clearspring Capital Partners
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