February 6, 2023
SolutionWorks, a leading provider of automotive reconditioning services, announced the acquisition of Streamline Recon, LLC (“Streamline Recon” or the “Company”), a Texas-based automotive reconditioning company focused on the automotive dealership market. SolutionWorks will be partnering with Streamline’s management team, who will remain with the Company post-close and retain an ownership stake in SolutionWorks.
Streamline Recon provides automotive reconditioning services primarily for the franchise dealership market, turning new and used inventory into retail-ready vehicles. Founded in 2000, the Company has been a trusted service provider in the Dallas Metroplex for over 22 years and provides a full suite of reconditioning services, including paint, wheel repair, exterior repair, paintless dent repair, interior repair, and detailing services. Under the leadership of Adam Bielecki (CEO) and Arian Rodriguez (Founder and COO), Streamline has grown into one of the most reputable dealership service firms in the state of Texas.
“The addition of Streamline to the SolutionWorks family extends our reach into the broader automotive reconditioning market”, said SolutionWorks CEO Patrick Hickey. “Streamline’s success in the dealership market fits in nicely with SolutionWorks portfolio of body shop, insurance carrier, fleet, and OEM customers. The combined company will add new capabilities to help our customers succeed, as well as create avenues for our technicians to grow and advance within the business. We are thrilled that the entire Streamline team is staying on board to join us in our journey”.
When asked about partnering with SolutionWorks, Adam Bielecki, CEO of Streamline, said, “The Streamline team could not be happier with our partnership with SolutionWorks. This transaction is the next evolution of Streamline that allows us to bring expanded service offerings to our customers and grow our footprint nationally. We are unified in our vision of being the single source repair provider during the entire life cycle of a vehicle”.
SolutionWorks is jointly owned by Alitus Capital Partners and Concentric Equity Partners. Streamline was advised by Colonnade Securities.
SolutionWorks is a recognized leader in claims management, hail repair, overspray, and other related services with over 20 years of experience. SolutionWorks has become one of the premier companies in North America by combining the very best in people, processes, and technology. We leverage that combination to be a trusted partner to insurance carriers, repair facilities, dealerships, fleet companies, manufacturers, and individual vehicle owners.
For more information on SolutionWorks, visit https://getsw.com/.
Achieving over $9 billion in successful client outcomes, Colonnade Securities, LLC is a leading investment bank focused on the business services and financial services industries. It provides proven M&A expertise with extensive industry knowledge in focused sectors to optimize outcomes for its clients.
For more information on Colonnade, visit www.coladv.com
About Alitus Capital Partners:
Alitus Partners was formed in 2014 to provide small business owners with the capital and operating expertise to enhance growth and support infrastructure development. Our founders have more than 100 years of operating experience, each having built our businesses into leaders in their respective industries. We understand the operating and growth hurdles that small business owners face and we work with our management teams to overcome those obstacles by providing strategic guidance and operational resources. We are long-term investors and as such, we take the time to position each business for sustained growth through our 10- to 20-year hold period. We want to use our experience to help other small businesses realize the same growth that we have experienced, and we do that through a hands-on, operationally-focused approach.
For more information on Alitus Capital Partners, visit https://www.alituspartners.com/.
About Concentric Equity Partners:
Concentric Equity Partners is a private investment firm that partners with leading middle market companies by providing capital and strategic advisory services to accelerate long term value creation. Concentric’s approach is simple: support entrepreneurs and operators by providing the resources required to achieve extraordinary results. The firm’s investment team is made up of individuals with distinguished track records as operators and professional investors across a variety of growth oriented middle market companies.
Concentric Equity Partners is the direct investing arm of Financial Investments Corporation, a private asset management firm and family office with over $2 billion in investment commitments under management. Financial Investments Corporation was founded in 1994 by father and daughter Harrison and Jennifer Steans and has been partnering with private companies for more than 25 years.
For more information on Concentric Equity Partners, visit https://www.ficcep.com/.