Equicapita Announces Acquisition of Majority Stake in North West Crane Group of Companies
Summary
With approximately 60 employees working in its locations in Leduc, Grande Prairie and Calgary, NWC is a leader in crane solutions in Western Canada.“We are excited to partner with Jon Janssen, president of NWC, and partners Don Kurjata and Dave Friesen, who are leaders in the Western Canadian crane industry,” said Equicapita Co-Founder, Michael Cook, “NWC provides Equicapita with an excellent opportunity to continue to execute on our investment strategy and, by partnering with existing management, sets the stage for ongoing success.” Equicapita has also brought in Glen Kinnee, a successful Edmonton based entrepreneur and Chartered Accountant, as a co-investor and new shareholder, to help guide the business and provide strategic leadership to the management team at NWC.Calgary, Canada, June 02, 2015 --( PR.com )-- Equicapita Income Trust and Equicapita Income LP (collectively “Equicapita” or the “Fund”) are pleased to announce the completion of the acquisition of a 70% equity ownership of North West Crane Group of Companies (“NWC”), a provider of integrated, full service crane solutions in Western Canada, by an affiliate of the Fund.Established in 1993 and headquartered in Leduc, Alberta, NWC is a preferred supplier of truck cranes, boom trucks/picker trucks and related services to its client base in the oil and gas, pipeline, utilities, forestry and general construction sectors.With approximately 60 employees working in its locations in Leduc, Grande Prairie and Calgary, NWC is a leader in crane solutions in Western Canada.“We are excited to partner with Jon Janssen, president of NWC, and partners Don Kurjata and Dave Friesen, who are leaders in the Western Canadian crane industry,” said Equicapita Co-Founder, Michael Cook, “NWC provides Equicapita with an excellent opportunity to continue to execute on our investment strategy and, by partnering with existing management, sets the stage for ongoing success.” Equicapita has also brought in Glen Kinnee, a successful Edmonton based entrepreneur and Chartered Accountant, as a co-investor and new shareholder, to help guide the business and provide strategic leadership to the management team at NWC.NWC is a well-established Western Canadian business with over 20 years of operating history serving a cross-section of industries.BWZ provided legal and tax structuring support and BDO provided tax due diligence support.About Equicapita: Founded in 2013, Equicapita is a private company buyout fund based in Calgary, Alberta focused on acquiring private, Western Canadian businesses with enterprise values ranging from $5 million to $20+ million.