Canadian private equity firm Penfund has provided growth capital to Mevotech LP, a Toronto-based supplier of automotive products, including steering, suspension, and driveline replacement products. The financial details of the investment were not disclosed. Mevotech said the partnership with Penfund will help the company to continue to execute its initiatives and better serve its customers. With its headquarters in Toronto, Penfund specializes in providing junior capital to mid-market companies in North America. The firm is currently investing from Penfund Capital Fund IV, which closed at $460 million in 2012.
Mevotech SupremeChassis and Control Arms carry a “Limited Lifetime Warranty”.TTX Terrain Tough Ball Joints and Control Arms carry a “Limited Lifetime Warranty”.Original Grade Chassis and Control Arms carry a five (5)year or 60,000 miles limited warranty, whichever may occur first.
This limited warranty does not apply to: any product installed on vehicles used for commercial, off-road, or competition purposes; any product damaged by abuse, accidental damage, or improper installation; any product for which a registration card, inclusive of proof of purchase, installation date and mileage reading, has not been properly completed and mailed to Mevotech LP; any product not installed by a certified technician in a certified repair shop. Mevotech LP will not be responsible for incidental and/or consequential damages caused to other components. No warranty, either expressed or implied, is made. No person or organization is authorized to alter this warranty, either verbally or in writing. The determination as to whether or not a part is defective rests solely with Mevotech LPand such determination is final. The warranty is non-transferable. The warranty only applies to the original retail purchaser.