TRP Wraps Up a Productive 2025
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2025 was an active year for TRP Capital Partners, which included an investment in 1 new platform company, 2 refinancings/distributions, 16 added locations through acquisitions, 12 greenfield expansions, and other notable achievements highlighted below.
In December, TRP VI invested in its fourth platform, an auto repair business based in the Mountain West region. The platform operated 6 full-service automotive repair and maintenance locations and TRP has partnered with the Company's co-founders to accelerate its organic growth and support its continued expansion with add-on acquisitions. The Company has already doubled its footprint, adding 4 sites simultaneous with the transaction and an additional 2 locations in February.
Driving Force Collision ("Driving Force") closed on its first and second acquisitions in Q2 2025. These acquisitions marked the Company's fourth, fifth, and sixth locations, doubling its footprint and extending its geographic presence in the Northeast. Driving Force has 5 additional opportunities under LOI and numerous potential acquisitions in the pipeline.
Through numerous acquisitions and greenfields, Jax Kar Wash ("Jax") added 20 locations throughout 2025, expanding its footprint to 66 locations across the Midwest. The Company continues to evaluate numerous greenfield locations and add-on acquisition opportunities and remains the largest car wash operator in Michigan and second largest in Wisconsin.
Lifted Trucks opened 5 new dealership locations, expanding its presence to 15 retail stores in 2025. Additionally, the Company expanded its production capacity with a new Lift Shop in Dallas, TX. Lifted Trucks expects to open its 16th retail location in Austin, TX in Q1 and plans to open 3 more stores in 2026.
TRP was honored to be recognized for the second straight year for its founder-led partnerships in Inc.'s 2025 Founder-Friendly Investors list. The prestigious list celebrates investors who back founder-led businesses and help them thrive. TRP is grateful to be a partner of choice for many founders of transportation-related businesses. A nominal fee was paid to submit TRP’s application for consideration.
In January, TRP was proud to be recognized as a 2026 Top 50 PE Firm in the Middle Market by Grady Campbell Incorporated. The program's focus is to acknowledge highly reputable, small and mid-sized firms that have earned the trust of investors, business owners, executives, and colleagues. TRP is honored to be among the list of this year's firms. A nominal fee was paid to submit TRP’s application for consideration.
In addition to the highlights above, our team is excited to have promoted Ben Aronovitz to Vice President and Kaylie Ayres to Senior Associate.
About TRP
Founded in 1997, TRP Capital Partners is a private-equity firm specializing in growth-oriented, lower-middle-market investments across the transportation sector. TRP has invested over $1.2 billion across 34 portfolio platforms, bringing deep industry knowledge and operational experience to every partnership.
We are actively looking for investments with the following criteria:
General: growth oriented, lower middle-market businesses
EBITDA: $5mm - $40mm; no minimum for add-ons
Equity per Transaction: $20mm - $70mm
Industries: Logistics and Supply Chain, Dealerships and Related Services, Aftermarket Solutions, Specialty Manufacturing and Distribution, Education and Training, Energy and Environmental, Commercial Services
Value-add: through our team’s significant industry expertise, combined with our extensive operating network and strategic investor group, TRP seeks to identify opportunities where we can add meaningful value to a business
Seller Type: entrepreneur founded businesses, PE exits, corporate carve-outs, challenged businesses with attractive growth opportunities
Transaction Type: buyout, growth equity, control, minority
For additional information on TRP, please feel free to reach out to any of our team members.