AutoCanada Strengthens Board with Appointment of New Board Member
EDMONTON, AB, Sept. 28, 2020 /CNW/ - AutoCanada Inc. ("AutoCanada" or the "Company") (TSX: ACQ), a multi-location North American automobile dealership group, announced it has recruited and appointed Mr. Lee Matheson to its Board of Directors effective immediately.
Lee Matheson was a co-founder of Broadview Capital Management which was subsequently sold to Ewing Morris Investment Partners Ltd. Lee brings a vast amount of capital markets experience having served on several boards including RDM Corporation, AlarmForce Industries Inc., WesternOne Inc., Medworxx Solutions Inc. and Strad Inc. Lee is currently a director of Echelon Financial Holdings Inc., exactEarth Ltd and Optiva Inc. and he recently joined EdgePoint Investment Management Group as a partner.
"We are very pleased to welcome Lee to our Board of Directors. Both his Canadian capital markets and director experience will make him an excellent addition to our Board," said Paul Antony, Executive Chair of AutoCanada. "This is an exciting time in our Company's growth and development as we move from defense to offence. Strengthening the foundation of AutoCanada with a strong balance sheet and consistent top decile performance allows us to pivot and pursue an acquisition and innovation strategy. With Dennis DesRosiers' upcoming retirement and departure from the Board, it is important for AutoCanada to have individuals around the table who will support the next leg of our growth journey."
AutoCanada is a leading North American multi-location automobile dealership group currently operating 63 franchised dealerships, comprised of 26 brands, in eight provinces in Canada as well as a group in Illinois, USA. AutoCanada currently sells Chrysler, Dodge, Jeep, Ram, FIAT, Alfa Romeo, Chevrolet, GMC, Buick, Cadillac, Ford, Infiniti, Nissan, Hyundai, Subaru, Audi, Volkswagen, Kia, Mazda, Mercedes-Benz, BMW, MINI, Volvo, Toyota, Lincoln, and Honda branded vehicles. In 2019, our dealerships sold approximately 71,000 vehicles and processed approximately 900,000 service and collision repair orders in our 1,047 service bays generating revenue in excess of $3 billion.
SOURCE AutoCanada Inc.