Identifier: About Our Business
VANCOUVER, BC, AUGUST 8, 2019
Rack Attack, a Banyan Capital Partners portfolio company, recently announced partnerships with USA Cycling and Cycling Canada, as their official rack retailer.
A premier North American vehicle rack retailer, Rack Attack provides cycling enthusiasts with quick and easy rack solutions from the best brands in the industry. In the capacity of these new partnerships, Rack Attack will provide rack solutions and installation support for bike transportation needs to USA Cycling and Cycling Canada. Further, Rack Attack will also offer exclusive benefits and assistance to athletes and members across North America.
“Rack Attack has always been committed to the cycling community and our partnership with USA Cycling and Cycling Canada only solidifies our position,” said Alexander Welbers, CEO of Rack Attack. “We are looking forward to working with both teams, the athletes and all the other cycling enthusiasts.”
Rack Attack’s network of stores provides personalized consultations, rack and trailer hitch installations, and exceptional customer service. All members receive access to their very own online store that enables them to get their favorite bike rack delivered anywhere in the continent in as little as two days at no additional charge.
“We are excited to have Rack Attack on our team and to provide our riders with this new member benefit. Our partnership with Rack Attack allows us to provide another meaningful benefit to our USA Cycling members; they have solutions and support for the wide range of riders in our cycling community,” said Liz Kollar, USA Cycling’s Director of Membership.
“We are proud to welcome Rack Attack to our family of partners and suppliers,” commented Matt Jeffries, Executive Director, Cycling Canada. “We are grateful for the support they will provide our organization and the broader Canadian cycling community.”
About Banyan Capital Partners
Banyan Capital Partners is a Canadian based private equity firm that buys and invests in private and public middlemarket companies located in North America. As a generalist firm, Banyan provides full or partial liquidity to existing owners or partners with owners wishing to grow their companies and become more successful. Banyan is part of the Connor, Clark & Lunn Financial Group Ltd., a multi-boutique asset management firm whose affiliated companies collectively manage approximately $77 billion in assets. www.banyancapitalpartners.com
About Rack Attack
Founded in 1996, Rack Attack is a premier retailer of vehicle rack solutions in North America. With 17 locations across Canada and the United States, Rack Attack offers a large selection of high-quality brands and products.
Contact
Jeff Wigle
Managing Director
Banyan Capital Partners
(416) 216-7076
Blaze James
Marketing Manager
Rack Attack
(604) 872-5224
A leading Canadian mid-market private equity firm, Banyan Capital Partners represents business strength, longevity and growth. Our success is rooted in our experience, relationships, and our proven reputation for honesty, respect and integrity. To highlight recent updates to our business and team, we are pleased to share with you the following update.
TEAM UPDATE
Scott Morrison, Associate, Business Development
We recently welcomed Scott Morrison to our team. At Banyan, Scott is responsible for leading business development initiatives, broadening our relationships with deal flow sources, and managing the deal flow pipeline. Prior to joining Banyan, Scott worked at Avison Young where he was responsible for sourcing and closing sale and lease transactions, as well as identifying new business opportunities. Scott has a Bachelor of Commerce (Honours) from Queen’s University and is a Certified Commercial Investment Member.
PORTFOLIO UPDATE
Continuing its growth trajectory, in April Rack Attack added two new stores in Los Angeles, California. The Santa Monica store, formerly a successful store under the Rack Solid banner, was acquired from its original owners as part of a succession plan. The Pasadena store represents the third new greenfield Rack Attack location in the last 13 months.
In April, Newcrete acquired Dawe’s Concrete Products Ltd., a provider of aggregates and concrete servicing the General St. John’s area. This is the second acquisition for Newcrete under Banyan’s ownership.
On April 1, 2019, Banyan’s interest in GWA was successfully acquired by Drive Products Inc.
About Banyan Capital Partners
Banyan Capital Partners is a private equity firm focusing on transition and expansion investment opportunities in middle-market businesses across North America. Banyan is an affiliate of Connor, Clark & Lunn Financial Group, a multi-boutique asset management firm that provides a broad range of distinct and independently managed investment products and services to individual and institutional investors. CC&L Financial Group and its affiliates are collectively responsible for the management of over $75 billion in assets.
For more information, download our corporate brochure or visit our website.
Banyan Capital Partners (Banyan), a Canadian private equity firm, announced today that it has expanded its team with the additions of Vice President, Michael Hendrie and Senior Analysts, David Beaumont and Lisa Sartor.
Over the past few months, Banyan has been steadily increasing its team’s depth by bringing David Beaumont onboard in late 2017 and Lisa Sartor in early 2018 as Senior Analysts. David comes to Banyan with experience in advising investors on potential acquisitions and Lisa has worked on mergers and acquisitions as well as in capital advisory for mid-market companies.
Completing the recent round of new hires is Michael Hendrie, who joined Banyan as a Vice President in the second quarter of 2018. Michael has spent the last eight years in the mid-market private equity space focused on analysis and execution of investment opportunities through industry evaluation, financial due diligence, and management oversight.
Jeff Wigle, Managing Director of Banyan Capital Partners, said “We are delighted to have Mike, David and Lisa join us as we continue growing Banyan and building on 20 years of success. We believe that our long-term investment horizon, well beyond that of typical private equity funds, results in a greater alignment of interests with co-owners, management teams and the other stakeholders of our businesses, and ultimately has contributed to the success of our firm.”
Since its founding in 1998, Banyan has invested in 20 companies in the North American mid-sized private and public market and currently holds interests in seven companies. Assets under management have grown to over $160 million (C$) and Banyan continues to both actively add new investments to its portfolio and further develop its current roster of companies through organic or acquisition-driven growth.
In June 2017, Banyan’s portfolio company, Oakcreek Golf &Turf acquired Simpson Norton, a distributor of commercial turf maintenance and irrigation equipment, systems and parts located in the southwestern United States. In September 2017, Banyan acquired a majority interest in Rack Attack, a premier North American retailer of vehicle rack solutions.
About Banyan Capital Partners
Banyan Capital Partners is a Canadian based private equity firm that buys and invests in private and public middle-market companies located in North America. As a generalist firm, Banyan provides full or partial liquidity to existing owners or partners with owners wishing to grow their companies and become more successful. Banyan is part of the Connor, Clark & Lunn Financial Group Ltd., a multi-boutique asset management firm whose affiliated companies collectively manage approximately $74 billion in assets. www.banyancapitalpartners.com.
Media Contacts
Banyan Capital Partners
Jeff Wigle
Managing Director
(416) 216-7076