Newlook Capital acquires gas detection business MultiGas

Canadian private equity firm Newlook Capital has acquired all of the assets and operations of MultiGas Detection and Instrumentation Services Ltd, a Leduc, Alberta-based provider of gas detection equipment, gas detection calibration and technical design services. No financial terms were released. Newlook made the investment via its Newlook Capital Industrial Services LP, which earlier this month secured a commitment from Portland Investment Counsel Inc. Toronto’s Newlook said the MultiGas deal is strategic and will help it expand its industrial services portfolio.

PRESS RELEASE

Newlook Capital Industrial Services Fund announces acquisition of MultiGas Detection and Instrumentation Services Ltd.

Burlington ON Nov. 25, 2016 / – Newlook Capital Industrial Services LP (“Newlook”) announces that it has acquired all of the assets and business operations of MultiGas Detection and Instrumentation Services Ltd. (“MultiGas”).

MultiGas is a leading provider of gas detection equipment, gas detection calibration and technical design services, with 23 highly trained skilled employees and operations across western Canada. It is headquartered in Leduc AB. The acquisition of MultiGas will provide a platform for Newlook to expand its Industrial services portfolio. Current management of MultiGas will stay in place and will have a vested interest in the business going forward.

“We are pleased to announce this acquisition as the platform investment into the fund,” stated Elroy Gust, President & CEO of Newlook. “MultiGas is a highly strategic acquisition for Newlook, its ability to generate ongoing and increasing EBITDA from a wide range of customers really resonates with us as investors. MultiGas fits the mandate of the Newlook Capital Industrial Services LP perfectly: Technical Service revenue of a recurring nature, where the service provided gives code compliance assurance. This is exactly the type of businesses we are looking for.”

ABOUT NEWLOOK
Newlook Capital operates as a private equity firm and merchant banker, investing throughout Canada and the U.S., with a preference for companies that exhibit a solid tangible assets base. Newlook Capital is focused on and current holdings include multifamily real estate and services in the U.S., industrial services in Canada and the U.S., and QSR in Canada.
www.newlookcapital.com

ABOUT MULTIGAS
MultiGas Detection is the leading Gas Detection System sales and service provider in Western Canada. The company offers unparalleled equipment diversity and commitment to quality. MultiGas offers consultation on system design, sales, installation, commissioning, and calibrations and service. In addition, they have a complimentary division offering industry-leading sales and service expertise in the Variable Frequency Drive and Soft Start industry.
www.multigasinc.com

For further information: Investor, analyst and media: Newlook Capital, Laura Livingstone, Investor Relations, 905.331.3697 x 201, laura@newlookcapital.com

Photo courtesy of MultiGas Detection and Instrumentation Services Ltd