CRS CraneSystems Inc announced in a website blog post that Canadian private equity firm Regimen Equity Partners recently became its majority shareholder. The deal, the financial terms of which were not disclosed, was done in partnership with Jim Caldwell, who now assumes the role of president, and Mark Lodge, a managing director. Based in Edmonton, Alberta, CRS is an overhead bridge crane service, maintenance and manufacturing company. Its partnership with Regimen will focus on the company’s plans to expand in Canadian and U.S. markets.
BLOG POST (reproduced courtesy of CRS CraneSystems Inc)
1st December 2014
CRS CraneSystems Inc would like to announce that effective from the 1st December 2014, CRS have a change in Partnership structure.
Nigel Roots (Sales and Company President) and Rick Semeniuk (Controller) will be retiring from CRS and Regimen Equity Partners will assume the role of majority shareholders and partner with the remaining owners Jim Caldwell and Mark Lodge who equally retain the remaining shares and their positions on the board of Directors.
Jim and Mark remain with CRS in the daily operations, Jim will assume the role of Company President with Mark remaining as Managing Director.
Nigel and Rick will remain with the company for a handover period and thereafter act as consultants from time to time.
Nigel’s role will be handed over to Jim Caldwell with Barry Cowling continuing in his role as Sales Manager but with greater autonomy to make day to day decisions.
After lengthy discussion with the various interested parties, CRS owners chose to partner with Regimen for the following reasons;
Regimen is a private equity business whose owners have a strong record in supporting and growing Canadian businesses.
Regimen operates based upon long term ownership with outlooks over a 30 years period, which promotes sensible and sustainable growth.
Regimen are not involved in the day to day operations which remain with the CRS management team.
Regimen have ambitions that match Jim and Marks wish to grow CRS through both organic (internal growth) and by the acquisition of other companies.
Regimen provide the expertise and capital resources to fund our future plans.
Regimen personalities and ethics matched those of CRS as a company.
The Partnership with Regimen affords CRS the opportunity to capitalise on its success to date and provides the expertise and financial resources to undertake our expansion plans both in our Canadian and US markets. This also provide our employees and customers with the knowledge that there is long term stability in the ownership of the company.
If you have any questions please contact any of the following;
Jim Caldwell President Vancouver Office
Mark Lodge Managing Director Edmonton Office.
Barry Cowling Sales Manager Vancouver Office
Jim Caldwell and Mark Lodge
Photo courtesy of CRS CraneSystems Inc