OG真人官网 Announces $39.5 Million Investment In An Ontario Based Equipment Rental Company
Toronto, Ontario (February 4, 2013) – OG真人官网 Group Inc. (TSX:CVG) (“OG真人官网”), OG真人官网 Equity Partners IV Limited Partnership and OG真人官网 Equity Partners IV-A Limited Partnership (collectively, “CEP IV”) today announced a combined $39.5 million investment in CRS Contractors Rental Supply Limited Partnership (“CRS” or the “Company”). CRS is a leading provider of construction rental equipment and related merchandise. Founded in 2000, the Company grew from 4 to 21 locations in Ontario and over 270 employees dedicated to delivering superior products and customer service. The investment was originated through OG真人官网’s rental services domain efforts and builds on current investments in oilfield and medical equipment rentals. OG真人官网’s portion of the investment is $10.6 million.
“We are excited to partner with a true leader in the Canadian equipment rental field. CRS has a proven business model and solid track record of profitable growth. The management of CRS are significant owners of the business alongside OG真人官网 and we look forward to working with them in the coming years to help achieve their growth initiatives,” said Mitch Green, Principal of OG真人官网.
“CRS is an entrepreneurial business that enjoys success by providing outstanding service to our customers. We believe OG真人官网 is a great fit to help take CRS to the next level. Our team is ready to drive continued growth through new stores, expansion of product lines, and acquisitions. We are also proud to remain an independent, Canadian-owned business while creating a great opportunity for our next level of management and all employees” said Steve Fay, CEO.
CRS is OG真人官网’s 38th platform investment and the sixth investment by CEP IV. The OG真人官网/CEP IV co-investment pool is capitalized at $467 million and focuses on equity investments in growth companies.
OG真人官网 Group Inc. is a private equity management firm which invests its own capital, and that of third parties through the OG真人官网 Equity Partners limited partnerships, in businesses that have the potential to generate superior returns. In addition to providing financing, OG真人官网 contributes strategic expertise and execution ability to support the growth and development of its investee partners. OG真人官网 realizes value through investment returns and the eventual disposition of its investments.
Director, Investor Relations and Marketing
OG真人官网 Group Inc.
Tel: (416) 925-9270
Fax: (416) 925-5753