GlassMasters Autoglass


GlassMasters which is an automotive glass service company with nine retail locations providing repair and replacement of autoglass (“Service Division”) and two automotive glass warehouses that import to sell wholesale a full line of quality aftermarket glass parts and materials at competitive prices (“Wholesale Division”). GlassMasters’ current principal markets are the Calgary, Edmonton and Red Deer regions.

Financial Metrics

  Purchase Price $17mm
  Purchase Date December 16, 2016
  WIC Ownership 61.3%
  Annual Management Fee $100,000



Distribution & Retail

Investment Thesis

  • Excellent management team, with a track record of double digit cash flow and revenue growth.
  • Resilient earnings even through the downturn in Alberta’s economy.
  • Low capex investment required for growth.
  • Potential for significant organic growth and tuck-in acquisitions in a fragmented market in Western Canada.

“We are delighted to enter this next phase of our evolution with strong partners like Western. This partnership will provide GlassMasters with additional capital, contacts, and other resources that will enable us to expand our business in Alberta and into new markets in Western Canada. Our goal is to provide our customers with the most convenient, professional auto glass replacement service possible. Western shares the same values of service and quality of workmanship that allowed us to make GlassMasters what it is today. They have the experience and the leadership needed to grow our brand. As new partners with strong Alberta roots and a long-term view of ownership, our employees will be able to further their careers and be part of a rapidly growing, successful, national auto glass company.”

Past President