Much like how the 13 colonies determined that the best way to achieve lasting independence was to unify, some independent truck repair shop owners are finding that strength in numbers is their best way forward, too.

Joining a national network like HDA Truck Pride’s Truck Service Experts, which Luke Todd of The Service Company in Ohio has done, is one option. Some shop owners, including Todd and Bill Kerry of Kerry Brothers Truck Repair in Michigan, have found that acquiring other shops can be an efficient way to scale a business. But not all shop owners are in a position to be running around buying other shops. For some, becoming the acquiree is the best way forward—and private equity is a logical buyer for those who aren’t ready to retire.

Chandler Kohn, who leads Focus Investment Banking’s heavy-duty parts distribution and service practice, said many private equity-backed acquisitions want the business owner to roll a percentage of their own equity into the new venture. Furthermore, they like the owner to stay on and help run the business and continue growing it.

True North Fleet Services is an example of this strategy playing out. As of mid-April, they had acquired six repair businesses in an area stretching from Texas to Pennsylvania. True North doesn’t like to use the term “acquisition” though.

“Some investment platforms write a check and take the keys,” said Gary Price, CEO of True North Fleet Services, which is supported by Garnett Station Partners, a New York-based principal investment firm. “We, on the other hand, want to partner with each shop. We believe each shop has its unique culture and has built relationships with customers and vendors.”

As the old saying goes, why fix what isn’t broken? Rather, True North Fleet Services focuses on the areas of a repair business that typically need fixing. This is how private equity investment can help successful shop owners break through the four biggest barriers to next-level growth.

1. Business complexity. The first thing an investor-backed platform brings to the table is capital, which will help a shop purchase the diagnostic tools, mobile trucks, etc., needed to keep pace with new technologies and evolving market needs.

2. Labor. The infusion of capital can also help with developing and deploying recruitment campaigns. In the case of True North, Price said there is a team of recruiting experts in place with vast experience in the medium- and heavy-duty repair industry. Likewise, investor-backed platforms can generally also offer more in the way of training.

3. Rising costs. Costs for just about everything have continued to climb, which puts the typical independent shop at a disadvantage when it comes to scaling. “When you’re part of a larger platform, you inherit some buying power,” Price pointed out.

4. Community. Becoming part of a larger platform also gives shop owners, along with their employees, an opportunity to collaborate and draw from a massive pool of collective experience and knowledge.

“All shop owners know it’s important to do these types of things; they just don’t have the time and resources to see it through,” Price said. “Being part of a larger platform gives shop owners a lot of thought leadership and industry experience to lean on. Then don’t have to try and do it alone anymore."