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Pat Priestner, CEO of publicly traded AutoCanada, says he welcomes the idea of more firms like his in the Canadian market.
Pat Priestner, CEO of publicly traded AutoCanada, says he welcomes the idea of more firms like his in the Canadian market.
(Ian Jackson for The Globe and Mail/Ian Jackson for The Globe and Mail)

AutoCanada launches surprising $115-million deal

You won’t hear the name AutoCanada Inc. much on Bay Street.

For starters, it’s got geography working against it. You don’t need to be in a major urban centre to get coverage from a banker, but being based in Edmonton certainly isn’t an advantage.

Then there’s the sector. AutoCanada operates franchised auto dealerships, which probably fall under the ‘diversified’ coverage umbrella. There haven’t been many deals in this space since the financial crisis.