Granite Creek Capital Partners has made an investment in Lombard, Illinois-based Auto Driveaway Systems LLC, a professional vehicle relocation service. No financial terms were disclosed. Auto Driveaway is a portfolio company of Evanston Partners LLC.
CHICAGO and LOMBARD, IL – Dec. 2, 2020 — Granite Creek Capital Partners, L.L.C., a private investment firm based in Chicago, today announced its investment in Auto Driveaway Systems, LLC, the leading professional vehicle relocation service in North America. Auto Driveaway, a portfolio company of Evanston Partners LLC, primarily serves large corporate fleets, upfitters, vehicle manufacturers and dealer groups as well as leasing and fleet management companies with fast, safe and reliable door-to-door service nationwide. Rush Street Capital of Chicago arranged the transaction.
Granite Creek’s investment in Auto Driveaway was made from its $200 million fund, Granite Creek FlexCap II, L.P. (“FlexCap II”). Within FlexCap II, Granite Creek is investing in a total of 15-20 companies engaged in manufacturing, business services, healthcare and agribusiness. Granite Creek plays an active role with the leadership of its portfolio companies and serves as a trusted advisor and partner.
“We are truly excited to partner with Rodney Ruth and the impressive management team at Auto Driveaway along with the experienced investment group at Evanston Partners. Under Rod’s steady leadership, the company has achieved exceptional growth along with an industry-leading commitment to customer service and operational excellence,” said Mark Radzik, Partner at Granite Creek Capital Partners, L.L.C. “Auto Driveaway has a distinctive business model that delivers a high-touch, cost-effective service to its entire customer base. That unique combination and its excellent, long-tenured management team position the company well for continued expansion.”
“As we explored capital partners, Granite Creek’s flexible financing mandate and focus on providing value-added advice for growth companies like ours made them an ideal partner for us,” said Rodney Ruth, CEO of Auto Driveaway.
“We have enjoyed a 30-year relationship with Brian Boorstein, one of Granite Creek’s co-founders, and are thrilled to partner with them on Auto Driveaway to continue the company’s rapid growth,” said William V. Glastris, Chairman of Auto Driveaway and Managing Member of Evanston Partners.
About Auto Driveaway
Auto Driveaway, based in Lombard, Illinois, is the leading professional vehicle relocation service in North America. Auto Driveaway primarily serves large corporate fleets, upfitters, vehicle manufacturers and dealer groups as well as leasing and fleet management companies with fast, safe and reliable door-to-door service nationwide through over 40 offices throughout the United States.
About Evanston Partners LLC
Based in Evanston, Illinois, Evanston Partners is a private equity investment firm which partners with management teams to recapitalize, acquire and build small growth companies. Evanston Partners seeks to work with partners who demonstrate passion, integrity and strong work ethic to build and grow already profitable companies with a long-term focus on value creation. (www.evanstonpartners.com)
About Rush Street Capital
Based in Chicago, Illinois, Rush Street Capital provides debt and equity capital markets, mergers and acquisition, financial restructuring, and valuation services to world-class, industry-leading companies. With over 100 years of combined investment and commercial banking experience Rush Street has developed significant industry expertise, deep relationships, and a keen understanding of how to address a company’s corporate finance and investment banking needs. Our clients include private equity firms, private business owners, and some of the largest corporations in the United States. (www.rushstreetcapital.com)
About Granite Creek Capital Partners, L.L.C.
Founded in 2005, Granite Creek Capital Partners, L.L.C. is a Chicago-based private investment firm focused on providing capital and operational resources to lower middle market companies engaged in manufacturing, business services, healthcare, and agribusiness. With an experienced team of investment professionals bringing expertise in private equity, banking, operations, and business development, Granite Creek has a successful track record of investing in and supporting its portfolio companies. In addition to providing funding to lower middle market companies, in 2011 Granite Creek co-founded Renovo Financial, one of the largest regional private lenders serving real estate entrepreneurs. Granite Creek was recently named to Inc.’s 2020 Private Equity 50 list. For more information on Granite Creek, visit www.granitecreek.com or call 312-895-4500.