Clearspring and OneLink invest in driving schools network Tecnic

• The investment was supported by BDC Capital’s Growth Equity Partners
• CEO Mylène Sévigny and other executives will remain with the business, while the founding president, Yvan Sévigny, will step down
• The Sévigny family will continue to be a major shareholder

Clearspring Capital Partners and OneLink Capital have made a growth investment in Groupe Tecnic 2000 and École de conduite Tecnic Rive-Nord, together a Quebec network of driving schools. No financial terms were disclosed.

The investment was supported by BDC Capital’s Growth Equity Partners.

Founded by the Sévigny and Aubé families in 1985, the Tecnic network includes 160 driving schools across Quebec and more than 1,000 instructors. Tecnic Rive-Nord is the largest franchisee of Tecnic, with 51 driving schools located on the North Shore of Montreal, Laurentides, Mauricie and Outaouais.

CEO Mylène Sévigny, vice president, finance, Isabelle Sévigny and senior strategic advisor Mark Krump will remain with the business, while the founding president, Yvan Sévigny, will step down. The Sévigny family will continue to be a major shareholder in the company. The Aubé family will continue to operate 30 Tecnic driving schools on the South Shore of Montreal.

“We are highly impressed by Tecnic’s growth, long-term relationships with its affiliates, and its ability to stand out in a highly competitive market. We have identified many opportunities for growth and are confident that this partnership will benefit customers, affiliates and employees alike,” said John Veitch, principal at Clearspring, in a statement.

Based in Toronto, Clearspring is a mid-market private equity firm that invests and acquires businesses through buyouts, growth financings, privatizations, industry consolidations, recapitalizations and other types of transactions.

Based in Montreal, OneLink Capital is a private equity firm that focuses on equity investments in small and medium-sized businesses.