Groupe Touchette Inc. acquires Fastco Canada, allowing a significant expansion to its service offering
MONTREAL, QC - July 11th 2023 – Groupe Touchette Inc., Canada’s leading tire distributor, has acquired Fastco Canada, the country’s leader in alloy wheel design, manufacturing and distribution.
This acquisition allows Groupe Touchette to significantly expand its service offering to its customers and provides Fastco Canada with greater access to new markets. The transaction also promotes strong synergies in product offering for the benefit of both companies’ customer base.
Groupe Touchette has been growing steadily for the past 40 years and has experienced tremendous growth and expansion over the past decade. The Fastco Canada acquisition is in line with Groupe Touchette’s growth plan by joining forces with an innovative company at the forefront of technology and driven by values of excellence. Also, Groupe Touchette and Fastco Canada share very strong common values and excel in their respective markets.
"We are very pleased and proud to welcome Fastco Canada, a company that is registering rapid growth and with which we share great ambitions," says Nicolas Touchette, co-owner and chief executive officer, Groupe Touchette Inc. "Our collaboration opens new avenues for both companies and allows us to expand our product offering as part of our strategic plan. Groupe Touchette and Fastco Canada have cultivated common values of excellence that motivate our respective employees. While remaining independent, both companies will continue to operate with common objectives to provide our customers with the best experience in the tire and wheel categories."
Fastco’s industry knowledge and expertise is unmatched in the market. The company benefits from steady growth built on long-standing partnerships with large Canadian retailers, vehicle manufacturers, and tire manufacturers. A rigorous product development process has been the hallmark of the Chaplin family, from design, engineering to the manufacturing of superior quality products for the automotive enthusiast. "We will now be able to count on the highly strategic experience of Fastco Canada," highlights Frédéric Bouthillier, co-owner and chief operating officer, Groupe Touchette Inc. "Fastco Canada has not only been at the forefront of forward-looking sectors such as electric vehicles (EVs) but has created unique resources such as FastFinderTM that enable us to offer exclusive data and precise fitment solutions to our customers."
"This announcement opens new opportunities and further expands our position as Canada’s leader in the design, production and distribution of alloy and steel wheels" shares Glenn Chaplin, President, Fastco Canada. "It will also increase the strength of our brands and open new opportunities for us in the future. I’m proud to see my sons Bob and Lee as well as the current leadership remaining at the heart of Fastco Canada and carrying on the Chaplin family culture. "
Fastco Canada’s operations in Vaudreuil-Dorion, QC and Airdrie, AB will continue as usual. The agreement allows Fastco Canada to maintain its brands and management team. Additionally, both businesses and their respective teams will remain independent while leveraging their strengths together.
Advisors
Prévost Fortin D’Aoust LLP served as Groupe Touchette’s legal counsel for the transaction, Ernst and Young, as financial advisor, KPMG as tax advisors and Fasken Martineau DuMoulin LLP for the legal financing.
Tony Fratianni, Founder and President, GC Plus Advisory Services served as Fastco’s legal counsel, Sam Spatari CPA and partner at PSB Boisjoli LLP served as financial advisor, Kevin Perkins at PSB Boisjoli LLP served as tax advisor, and Michael Pesner of Hermitage Finance Canada Inc. and Glen Brown at i3Legal Inc. served as M&A advisors on the transaction.
About Groupe Touchette Inc.
Founded by André Touchette in 1979, Groupe Touchette Inc., the largest Canadian-owned tire distributors, has been recognized for over 40 years for its expertise and superior level of service to manufacturers, car dealers and independent customers. Today, led by Nicolas Touchette and Frédéric Bouthillier, the company headquartered in Montréal specializes in value-added tire distribution services. Groupe Touchette has a strong presence across Canada with more than 50 distribution centres. Through its TireLink and DT Tire Banners, Groupe Touchette is servicing car manufacturers, car dealerships and independent tire retailers. The company also serves Canadian consumers under the retail banners Tirecraft, Integra Tire, Signature Tire, Tireland/Ici Pneu, Tire Partners/Pneu Solutions, Pneu Select, MécaniPneu, Pneus Chartrand Mécanique, Pneus Express Mécanique and Touchette Motorsport. www.grtouchette.com
About Fastco Canada
Fastco’s founder’s, Glenn Chaplin, lifelong passion for auto racing fueled his desire to get into the wheel and tire industry. He began selling auto accessories from his basement in 1970, which evolved into his first retail location called Automotion and subsequently Lazer Auto. The business transitioned to wholesale only in 1989 with the incorporation of Fastco Canada.
Today, Fastco is the largest manufacturer and distributor of alloy and steel wheels and accessories in Canada with facilities in Vaudreuil-Dorion, Québec, and Airdrie, Alberta. Fastco, designs, manufactures, and distributes Fast Wheels, Fast HD, Fast EV, Braelin, and Replika wheel brands as well as a full accessory program called Dialyn. They also have extensive OER alloy wheel programs with many of Canada’s largest vehicle manufacturers.
Data Acquisition is a critical part of Fastco’s operations which is powered by FastFinderTM, the proprietary software that generates the most accurate fitment data in the industry.
To support their wheel and accessories program, Fastco distributes a wide variety of tire brands. https://fastco.ca/
Media Contact
Groupe Touchette Inc.
David Giguère
Marketing & Merchandising Vice President
dgiguere@grtouchette.com
514 206-3000
