TORONTO, Oct. 31, 2017 /CNW/ - Roynat Equity Partners, along with their partners in the transaction, Tepper Holdings Inc. ("THI" ), are pleased to announce the sale of their majority equity ownership interest in Comtrad Strategic Sourcing Inc. ("Comtrad") to Ardenton Capital Corporation and Comtrad President, Jim Long.
Based in Mississauga, Ontario, Comtrad is a leading importer and distributor of hardware and component products to furniture, kitchen and bath cabinet manufacturers and distributors throughout North America. With over 45 years of experience, Comtrad provides a "one-stop" solution for OEMs to outsource all facets of their supply chain with top quality products from Asia.
Under the ownership of Roynat Equity Partners and THI, Comtrad has expanded its operations and developed an innovative approach to outsourcing manufacturing, which in turn, has allowed it to service a wide range of industries.
"Comtrad and its management team have built a leading distributor in the industry that allows it to compete across North America", said David Daum, President and CEO of Roynat Capital. "The company is well positioned to continue creating new opportunities".
"With the support provided by Roynat and THI, Comtrad has experienced significant growth and diversification and can now continue that momentum with a new partner", said Comtrad President, Jim Long.
Grant Thornton Corporate Finance served as exclusive financial advisor and Loopstra, Nixon LLP served as legal counsel to Roynat Equity Partners and THI in connection with the sale.
About Roynat Equity Partners
Roynat Equity Partners facilitates growth and creates wealth in established mid-market private companies by providing patient capital, advice and contact networks to Canadian entrepreneurs. With over $300 million in committed capital and offices across Canada, Roynat Equity Partners is dedicated to helping mid-market companies grow and achieve their business goals. Flexible investment structures are tailored to the needs of partners and include common equity, preferred equity, and convertible debt. Roynat Equity Partners is a division of Roynat Inc. which is a wholly owned subsidiary of Scotiabank. For more information, please visit www.roynat.com/equity
About Tepper Holdings Inc.
Tepper Holdings Inc. is a Canadian owned private holding company. Since its inception in 1997, THI has taken ownership stakes in a variety of business sectors including manufacturing, transportation and logistics, warehousing, real estate, technology, leasing and investment banking. For further information, please visit www.tepperholdings.com.
About Comtrad Strategic Sourcing Inc.
Comtrad has been providing simplified sourcing solutions to the North American market for over 45 years. They take the risk out of overseas sourcing with simple, flexible solutions tailored to their customer's evolving needs. Comtrad provides its services to customers across multiple industries, with both standard and custom designed products, providing environmentally friendly, cost effective opportunities, and service excellence. For more information, please visit www.comtradsourcing.com.
SOURCE Roynat Equity Partners