Fort Capital Partners is pleased to announce that CAI Capital Partners (“CAI”), a Vancouver-based private equity firm, has acquired a majority interest in LineStar Utility Supply Inc. and its related and affiliated companies (“LineStar” or the “Company”).
LineStar is a leading distributor of powerline technician (“PLT”) tools and safety equipment across Canada. PLT tools are necessary to build and maintain the country’s critical electrical infrastructure. With distribution centers in British Columbia, Alberta, Manitoba, and Ontario, the Company serves electric utilities, large powerline contractors, cities and municipalities and corporations from coast-to-coast. LineStar was founded in 2005 and has established long-term, successful relationships with key tool and equipment OEMs.
LineStar will continue to be led by Brian L’Heureux, Greg Payne, and Brian Colledge who have each retained a meaningful equity interest. Co-founders Mike Armstrong and Bill Finley will also remain involved in the business in an advisory capacity. “We have found the right partner considering CAI’s strong track record in partnering with owner-led businesses that service utilities and infrastructure, and are well-positioned to capitalize on a number of growth opportunities.” said Brian L’Heureux, CEO at LineStar.
Fort Capital Partners acted as financial advisor to LineStar.