The Hybrid Shop LLC (THS) has sold a 38% stake in its hybrid and electric vehicle conditioning business to an equity partner.
Although THS declined to identify the equity partner, the company says it is a Northern Virginia investment firm that manages approximately $4 billion in assets. Funds managed by the firm now own 38% of THS.
The company says the investment underscores its success in achieving leadership across the hybrid and electric vehicle space and is recognition by a multi-billion dollar firm in the potential of the THS brand.
“We are proud to announce this investment in THS by a leading, multi-billion dollar firm,” says Dave Crawford, chief executive officer.
“The fact that a multi-billion dollar investment firm would want to invest in an early stage company serves as affirmation of our brand, business model, and future potential as well as recognition of our success to-date in our ongoing efforts to achieve a position of innovation and fast-growth in the rapidly-evolving hybrid and electric space.”
THS, which provides hybrid and electric vehicle training, education and battery conditioning, has continued to expand its global network of expert dealer partners, as well as its relationships with industry leaders. In recent months, THS says it has solidified key components of its business model as part of its future road-map to success, including:
* signing 25 new dealer partners in the past year and generating more than $5 million in leads;
* projecting to add 10 more dealer partners to the THS network before the end of 2014; and
* focusing on market growth and expansion, including Asia and other international markets.
THS plans to use the investment to support ongoing organizational growth, bolster operational resources and support available to their current network, and continue to build-out its national network of ‘all things hybrid’ service centers.
