Nova Capital Portfolio Company Canadian Acquisition
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 04/07/15 -- Nova Capital Portfolio company National Concrete Accessories ("NCA") has announced the acquisition of its Western Canadian Rival Northland Construction Supplies.
NCA is Canada''s leading manufacturer and distributor of concrete accessories with 14 branches stretching from Quebec to British Columbia. Northland is a similar distribution business with 5 branches in Alberta. This is the second acquisition made by NCA under Nova''s ownership following the earlier purchase of Ottawa based Bray. The acquisition was funded through new debt facilities for NCA provided by HSBC Calgary who have been lenders to the Group since Nova''s acquisition.
Nova acquired NCA as part of a portfolio buy-out in late 2011 of a number of Canadian industrial businesses including Wilkinson Steel and Metals (subsequently sold to Samuel Group) and Calgary based Exchanger Industries.
NCA and Nova were advised on the Northland acquisition by Stikeman Elliott and KPMG.
Kath Jones, Nova''s Toronto based Investment Partner said "We are delighted to add Northland to our NCA operations. The acquisition strengthens our position in Western Canada and is fully in line with our strategy to drive both organic and acquisitive growth for this investment".
About Nova Capital Management Ltd
Nova Capital is a pioneer in portfolio buy-outs specialising in acquiring multiple businesses in a single transaction. Since our foundation in 2002, we have executed transactions with a value of over $1.7bn from our offices in London, Chicago and Toronto. Nova''s 20+ strong team brings together senior operating partners with experienced investment professionals to unlock value in all of the businesses we acquire.
Nova Capital Management Limited is authorised and regulated by the Financial Conduct Authority
For additional information on Nova Capital Management please go to .
Contacts:
Kath Jones
+1 778 985 8834
David Williamson
+1 312 618 3082
Jane Kingdom
+44 20 7901 1789
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Datum: 07.04.2015 - 10:04 Uhr
Sprache: Deutsch
News-ID 1349593
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