HALIFAX, June 20, 2013 - SeaFort Capital Inc. ("SeaFort") announced today that it has agreed to make a majority investment in G. Cooper Equipment Rentals Limited ("Cooper Equipment"). The transaction is scheduled to close on or about June 30, 2013. Established in 1972, Cooper Equipment is a full service construction equipment rental company servicing contractors in the Greater Toronto Area. Cooper Equipment specializes in compact equipment rentals and offers a broad range of construction equipment and supplies, backed by unparalleled service and support. The company operates four locations, in Rexdale, Scarborough, Downtown Toronto and York Region and has over fifty dedicated employees. The senior management team, including CEO Darryl Cooper and President Doug Dougherty, will have a significant ongoing investment and will continue to lead the company.
Rob Normandeau, President of SeaFort, commented "Cooper Equipment has an outstanding team of hard-working employees, each of whom is dedicated to delivering excellent customer service. We see tremendous opportunity for growth and are proud to partner with Darryl, Doug and their team to support the development of the company."
Doug Dougherty, President of Cooper Equipment, added: "SeaFort will provide us with the capital and support necessary to continue our growth. That allows us to offer exciting opportunities to our employees and additional services and support to our valued customers."
Darryl Cooper, CEO of Cooper Equipment, offered "Cooper Equipment was founded by my father Gordon in 1972. We are extremely passionate about the business, our customers and our employees. I know SeaFort shares our values and we are excited to partner with Rob and his team."
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 targets 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.