Westcap Announces Investment to Accelerate Inland Steel Products Growth Plan

SASKATOON, SK, Jan. 9, 2025 /CNW/ - Westcap Mgt. Ltd. ("Westcap") is pleased to announce the completion of an investment in Inland Steel Products Inc. ("Inland Steel" or the "Company"). The investment was made through a syndication, involving Westcap managed funds, Westcap MBO III Investment LP, a Western Canadian-focused Private Equity Fund and Golden Opportunities Fund Inc., a Saskatchewan-based Retail Venture Capital (RVC) Fund.

Inland Steel, headquartered in Saskatoon, Saskatchewan, is a leading metal recycler in Western Canada. Established in 1967 by Dennis Ditlove, the Company remains family-owned and is now led by the third generation of the Ditlove family. With operations across Western Canada, Inland Steel has built a reputation over nearly six decades for industry-leading reliability, exceptional service, and strong community involvement.

Under the leadership of the President, Matthew Ditlove, Inland Steel has executed several major growth initiatives including investments in rail infrastructure, mergers and acquisitions, and joint venture partnerships. These efforts have strengthened the Company's infrastructure and logistics capabilities, providing a solid foundation that can be leveraged for rapid, future expansion.

When selecting a capital partner, Inland Steel prioritized working with a trusted, well-known, local entity that shares similar values. "As Inland Steel will remain a family-owned company, it was important for us to partner with a group we knew, trusted, and who had a business culture that aligned with ours. We have known and followed Westcap for decades and have witnessed firsthand the positive impact they have had on businesses looking to grow" says Matthew Ditlove.

Grant J. Kook, President and CEO of Westcap states, "This strategic investment is the vision by which Westcap was founded three decades ago resulting in yet another great Saskatchewan success story and partnership. We are very excited to support this well-established multi-generational-owned business, to become the premier metal recycling company in Western Canada, while remaining locally owned and headquartered."

About Westcap Mgt. Ltd.

Founded over 25 years ago, Westcap is a leading private equity and venture capital fund manager with well over $1 billion in assets under management. Westcap has an uncompromising vision to build long-term value for investors by supporting visionary management teams in their growth and succession strategies. Our vast network of strategic partners and long history of success across Western Canada is grounded by our strong culture and integrity.
Learn more at westcapmgt.ca

About Inland Steel Products Inc.

Inland Steel is a third generation, family-owned metal recycling company that was founded in Saskatoon in 1967 by Dennis Ditlove and began as a new steel wholesaler and retailer. Dennis' son, Mark, took over the business in 1988 and continues to serve as CEO and Chairman, while transitioning the day-to-day operations to the next generation, his sons Matthew and Jake. Under their leadership, the Company has expanded westward across the prairies and now operates additional processing facilities across Saskatchewan and Alberta.
Learn more at inlandsteelproducts.com

SOURCE Westcap Mgt. Ltd.

For further information, please contact: Grant J. Kook, President/CEO, Westcap Mgt. Ltd., Tel: [phone]; Matthew Ditlove, President, Inland Steel Products Inc., Tel: [phone]