Westbridge Capital Acquires Kavia Auto Body
Westbridge Capital Ltd. (Westbridge), a private equity management company, announced today that it has acquired KAVIA Auto Body, Inc. (KAVIA), a leading Saskatoon based provider of auto-body repair services.
“Since its inception in 1984, KAVIA has evolved into one of the leading providers of auto-body repair services in Saskatchewan. KAVIA’s exceptional financial performance, coupled with a culture of quality and service, state of the art technology and an outstanding employee and management team made it the logical choice for our first acquisition in this very exciting segment” said Michael Meekins, President of Westbridge. Meekins continues, “The acquisition of KAVIA is the first of a number of planned transactions in this particular industry vertical. To this end we are happy to report that Raj Kavia, the retiring owner and President will continue to partner with us as Chairman of the board of KAVIA and will work closely with Westbridge as we explore other opportunities in this industry vertical”
Newly named KAVIA Chairman Raj Kavia said, “ With the commitment of our extraordinary leadership team, I am proud to know that Kavia Auto Body will continue to be an industry leader and provide world class service. I am exhilarated with the collaboration with Westbridge and my ongoing involvement with them in the evolution of the collision industry.”
Financing for the acquisition was arranged by Westbridge Capital Partners Income Trust, a mezzanine debt fund managed by Westbridge Capital Ltd.
For more information, please contact Andrew McCready at andrewm@westbridgecapital.ca
About KAVIA Auto Body Inc.
A multiple SABEX award winner, KAVIA, over 35 years, has evolved into the largest volume auto-body repair facility in Saskatoon.
About Westbridge Capital Ltd.
Westbridge is a private equity management company. Westbridge focuses on real estate and private equity investments that by their nature have little correlation to publicly listed securities and may be used to diversify a portfolio and reduce overall portfolio risk and volatility.
About Westbridge Capital Partners Income Trust
Westbridge Capital Partners Income Trust is a Canadian domiciled Mutual Fund Trust managed by Westbridge Capital Ltd. The Fund makes high yield loans to mature operating companies and distributes the associated income stream to investors.