AutoCanada increases debt to over C$200 million with acquisition draws

Chicago, Jan. 18 – AutoCanada Inc. said that it increased its net debt in the fourth quarter of 2021 to between C$200 and C$220 million with various acquisitions that were financed by drawing on the company’s credit facility and existing balance sheet capacity, according to multiple press releases.

The company added C$170 million to C$190 million of debt through its acquisition of 11 dealerships from the Autopoint Group, the acquisitions of Airdrie Autobody in Canada and Crystal Lake Stellantis and the purchase of dealership real estate under development in Maple Ridge.

The acquisitions represented a total cash outflow of approximately C$191 million during the quarter.

The franchise automobile dealership group based in Edmonton, Alta.

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