MONTREAL, QUE. – Two of the Canadian dealership body’s powerhouse leasing operations are joining forces to form the second largest in-house leasing business in Quebec.
Jim Pattison Lease and Montreal-based Groupe Park Avenue announced the deal saying it was a great opportunity for Pattison to partner with an established Quebec presence; Groupe Park, on the other hand, can leverage Jim Pattison Lease’s national scale and fleet programs.
“Jim Pattison is an ideal Canadian partner for Groupe Park Avenue, sharing the same strong entrepreneurial values and commitment to customer service,” said Norman Hébert, president and CEO of Groupe Park Avenue.
“Thanks to this partnership, we can now focus on continuing to grow our retail automotive business organically and through strategic acquisitions, while ensuring that our corporate leasing business flourishes and stays 100 per cent Canadian-owned.”
Financial details of the venture were not disclosed. Steve Akazawa, president of Jim Pattison Lease, said Jim Pattison Lease will become a lead partner in Montreal-based Location Park Avenue. Existing Location Park Avenue customers will now benefit from Jim Pattison Lease's national presence as well as enhanced fleet support and service programs.
Location Park Avenue – Jim Pattison Inc. will have approximately 4,100 leased and managed vehicles.
Industry watchers say this transaction is part of a trend of out-of-province owners that acknowledges the importance of Quebec-based asset management within the provincial market.
Well-established on the south shore of Montréal and with locations in Montreal, Laval and Sherbrooke, Group Park Avenue was founded over 55 years ago and employs about 750 people in Quebec.
Quebec-based and privately held, the dealership group currently runs 20 dealerships.
Jim Pattison Lease is Canada's largest privately owned fleet management and leasing company with over 29,000 leased and managed vehicles across the country.