Agreement to support Pipp's growth plans and expansion
MONTREAL, Dec. 10, 2012 /CNW Telbec/ - NOVACAP, a leading private equity
firm in Montreal, Canada, has partnered with Pipp Mobile Storage
Systems, Inc. (Pipp), an important national supplier of mobile storage
solutions for American retailers. This agreement will ensure Pipp
continues its evolution in becoming the retail industry's premier
backroom solution supplier.
''Pipp has finally concluded its extensive search to find the right
partner, and is pleased to announce its partnership with NOVACAP - a
firm which will supply the capital and acquisition expertise to expand
its reach throughout North America. NOVACAP's mission is to invest in
middle-market companies that have the potential to become world leaders
by helping to develop their markets, technology, and operations. This
approach will provide additional resources to better support our
customers and achieve our ambitious growth plans," said Mr. Craig
Umans, President and CEO of Pipp Mobile Storage Systems.
The Pipp management team will continue to possess a sizable equity stake
and lead the company. "We are pleased to have completed the acquisition
of Pipp Mobile Storage Systems, a company that is known for operational
excellence and technological leadership. This is a very successful
business with market leading products, a robust customer base, a
skilled and dedicated workforce, and a history of innovation," said
François Chaurette, General Partner of NOVACAP. "Our plan is to invest
in this business and its people. We intend to grow Pipp through the
development of new products and applications, through geographic
expansion, and by capitalizing on their outstanding customer service,"
added Mr. Chaurette.
With the recent strategic acquisition of IRSG, a versatile inventory
processing and transport systems solution provider, Pipp Mobile Storage
Systems offers the most comprehensive line of backroom storage
solutions. Pipp's mission is to design space-saving systems that are
responsive to customer-specific storage needs with the highest quality
standards; and to provide a level of sales and service support that is
unsurpassed in the storage products industry.
"NOVACAP will provide the required resources needed to support our
customers and fuel our ambitious growth plan. We are thrilled by the
future prospects of Pipp, and we are very proud to join forces with
them," concluded Mr. Umans.
With $790 million in assets under management, NOVACAP is one of Canada's
leading private equity firms. Since 1981, its distinct partnership
approach based on operational expertise has helped companies accelerate
their growth and maximize their value. NOVACAP ranks among the top
private equity firms in North America. For more information, please
ABOUT PIPP MOBILE STORAGE SYSTEMS, INC.
Since 1981, Pipp Mobile Storage Systems' mission has been to design
space-saving systems that are responsive to customer-specific storage
needs. Pipp solves storage problems for retail stores, offices,
companies, and institutions worldwide. Pipp manufactures to the highest
quality and provides an unsurpassed level of customer service. In
addition to its mobile carriage systems and shelving systems, Pipp's
extensive product line also includes Perimeter Wall Storage and Hanger
Storage Systems as well as a broad line of Accessories. Pipp is able to
customize smart solutions for any storage situation. Pipp can
manufacture to high-volume requirements and ships to nearly 5,000
domestic and international locations annually. For more information
visit www.pippmobile.com, www.denstor.com or www.irsg.com.
For further information:
Jacques Foisy, CPA CA
President & Managing Partner
450.651.5000 extension 229
François Chaurette, CPA
450.651.5000 extension 225
Cohn & Wolfe Montréal
514.293.3423 or 514.845.7035