Canadian private equity firm TriWest Capital Partners has invested in Coast Wholesale Appliances Inc, a Vancouver-based distributor and retailer of major appliances serving the builder, contractor and retail markets across Canada. No financial terms were disclosed for the growth investment, which was made in partnership with the company’s senior management and existing principals, including President and CEO Gord Howie. Founded in 1978, Coast sells more than 40 brands of premium and high-end appliances through its 16 showrooms. TriWest’s investment marks the seventh made by TriWest Capital Partners Fund V, which raised $500 million in 2015.
Coast Wholesale Appliances
VANCOUVER, British Columbia, October 2, 2017
TriWest Capital Partners (“TriWest”), is pleased to announce that it has invested in Coast Wholesale Appliances Inc. (“Coast”). The investment was made in partnership with Coast’s senior management and the existing Principals, who have all retained a significant ownership stake. This investment represents TriWest’s seventh portfolio company in TriWest Fund V.
Founded in 1978, Coast is a leading, independent distributor and retailer of major appliances serving the builder, contractor and retail markets across Canada. Coast sells over 40 brands of premium and high-end appliances through its 16 showrooms. The company offers a truly differentiated destination retail experience, including live kitchens for customers to experience products first hand. Coast has extensive, long-term customer relationships with builders of multi- and single-family homes and an established, rapidly growing retail presence countrywide. Coast is dedicated to delivering the brands you want, and the expertise you need, as it strives to offer its customers exceptional service. For more information, please visit www.coastappliances.com.
“We are very excited to partner with Gord Howie, his first-class management team, and the founding Principals of Coast,” said Ryan Giles, Managing Director at TriWest Capital Partners. “TriWest is highly impressed with Coast’s established market position and excellent relationships across the country. We look forward to working with management as they continue to execute their growth strategies.”
“I am excited about partnering with the great team at TriWest,” said Gord Howie, President and Chief Executive Officer of Coast. “We both believe there is significant opportunity to accelerate Coast’s growth and become Canada’s largest independent commercial and retail household appliance player. We will continue to provide our customers with the exceptional service and experience they expect.”
About TriWest Capital Partners
Founded in 1998 and based in Calgary, Alberta, TriWest is one of Canada’s leading private equity firms, having raised over $1.25 billion in committed capital through five funds. TriWest makes significant equity investments in profitable companies and works in partnership with management to generate superior financial returns through the pursuit of growth opportunities and a focus on operational excellence. TriWest provides more than just capital. The principals of TriWest have significant operational and financial expertise, making us effective partners in creating shareholder value.
For more information about TriWest, please visit www.triwest.ca.
Photo courtesy of Coast Wholesale Appliances Inc