SEATTLE, March 13, 2013 /CNW/ - NCA Partners LLC ("NCA"), a Seattle
based private equity firm, is pleased to announce that the majority of
the owners of Warwick Industries Ltd. ("Warwick") and Kent Steel Ltd.
("Kent") are partnering with NCA to form Warwick & Kent Holdings Ltd.
("Holdings"), which has acquired both companies from the current
ownership group. NCA has a strong history in Western Canada of buying
and building successful companies by partnering with management teams
and providing growth capital. NCA's investors are a group of
accredited investors from both Canada and the U.S.
Warwick has enjoyed a long and successful relationship with Kent as a
critical vendor, and NCA believes that the combination of the two
companies will provide a solid platform for growth. The owners that
remain as senior management will continue to be substantial owners of
Holdings. According to Warwick's President, Randy Tooth, "we are
excited about partnering with NCA, whose goals for the company are
closely aligned with those of the Warwick management team and
employees". Tooth said that "NCA will provide the company with the
necessary growth capital to continue to be the leading provider of
custom structures in Western Canada". Jack Shorrock, President of Kent
added "we are happy to be coming together with our long time customer
Warwick and are excited that NCA will provide the capital to expand our
capabilities to meet all of our customers' needs".
NCA is partnering with Warwick and Kent because of their industry
leading position in the steel fabrication and industrial structures
market in Western Canada and the companies' high quality products and
work force. NCA wants to make sure that Warwick and Kent will have the
financial resources to grow their businesses, both in their current
markets as well as certain international markets.
Terms of the transaction were not disclosed.
SOURCE: NCA Partners LLC
For further information:
Bradford Creswell at 206-689-5615.