TORONTO, Oct. 2, 2013 /CNW/ - Wheels Group Inc. ("Wheels" or the "Company") (TSXV: WGI) Difference Capital Financial Inc. ("DCF" or "Difference Capital") (TSXV: DCF). Difference Capital, a Toronto-based specialty finance company, announced today that it has, in a private transaction, acquired 1,000,000 outstanding common shares of the Company and 1,000,000 outstanding Series 1A preference shares of the Company.
"Wheels is the dominant Canadian third party logistics provider," said Michael Wekerle, Executive Chairman of DCF. Mr. Wekerle added, "their proven model, solid track record and impressive team positions them well for continued aggressive growth. We are excited to add this unique business to our growing portfolio of investments."
"We are pleased to welcome Difference Capital as a shareholder of Wheels," said Doug Tozer, Chief Executive Officer of Wheels. Mr. Tozer added, "we appreciate their support and involvement as we continue to deliver on our strategy of double digit organic growth supported by strategic and profitable acquisitions."
Founded in 1988, Wheels is a leading North American 3PL, supply chain logistics provider. As a non-asset provider, the Company develops advanced supply chain solutions delivered through its qualified partner network of over 6,000 truck, rail, air and ocean carriers. Wheels serves consumer goods, food and beverage, manufacturing and retail clients through 26 offices throughout the US and Canada. Wheels has been named one of Canada's 50 Best Managed Companies since 1997, Platinum since 2003. Wheels has been named one of North America's Top 100 Third-Party Logistics ("3PL") Companies, one of the Top 100 Food 3PL's and one of the Top Five IMC's (intermodal marketing companies).
About Difference Capital Financial
Difference Capital Financial Inc. is a publicly-listed, Toronto-based specialty finance company focused on creating shareholder value through strategic investments in, and advisory services for, growth companies, particularly in the technology, media and healthcare sectors, as well as through opportunistic investments in undervalued financial assets and real property.
Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Wheels Group Inc.
For further information:
Patrick J Marshall
VP Corporate Development & Investor Relations
Wheels Group Inc.
Tel: (905) 602-2700
Chief Executive Officer
Difference Capital Financial Inc.
Tel: (416) 649-5088