HALIFAX, Nov. 20, 2012 - SeaFort Capital Inc. ("SeaFort") announced today that it has partnered with senior managers Larry MacDonald and Robert Fraser to acquire A.W. Leil Holdings Limited and its related operating entities (together, "A.W. Leil"). Established in 1958, A.W. Leil is a leading Atlantic Canadian crane rental and lift services business. The company operates a fleet of over fifty cranes under the trade names A.W. Leil, Sagadore Cranes and Cape Breton Cranes, and has five offices and over sixty employees.
Rob Normandeau, President of SeaFort, commented "We are excited to invest in an established Nova Scotia business alongside experienced and dedicated operating partners. A.W. Leil boasts a committed group of skilled employees and a modern fleet of cranes. We intend to continue the legacy that Allison Leil Sr. and his family have established through decades of reliable performance."
Larry MacDonald, General Manager and shareholder of A.W. Leil offered "Robert Fraser and I are very pleased to partner with SeaFort. We will continue to run the business out of our Pictou County head office, but will now have access to advice and assistance from SeaFort on matters related to A.W. Leil's strategic direction and future growth. We share a strong commitment to safety and a belief in excellent customer service. This transaction will provide a seamless transition to a new ownership structure, which is great news for employees and for customers."
Allison Leil Sr. added "Over the last 54 years, I have taken great pride in my business, developing a personal connection to each employee and a deep familiarity with every piece of equipment. I am pleased to see SeaFort partner with Larry and Robert to acquire the company. I am confident that they will treat our people fairly and uphold our values as they work to grow and develop the business."
About SeaFort
Halifax-based SeaFort Capital makes controlling investments in small and medium sized Canadian businesses and partners with experienced managers to build value. SeaFort is a private company governed by the following directors: Scott Brison, Scott McCain, Michael Milligan, Rob Normandeau, Donald Sobey and Rob Sobey. SeaFort looks to invest in Canadian companies with earnings of between $2 million and $10 million that have a strong tangible asset base and operate in an "old economy" industry, such as manufacturing, distribution or equipment services.
For further information:
Rob Normandeau
President
SeaFort Capital Inc.
E-mail: rnormandeau@seafortcapital.com
Phone: (902) 407-3477
Website: www.seafortcapital.com
The full press release is available here.