Equicapita acquires majority of logistics business Wingenback

Canadian private equity firm Equicapita has acquired a 70 percent interest in Wingenback Inc, a Calgary-based industrial and commercial logistics business, for an undisclosed amount.

The deal, which will support the company’s growth, saw Equicapita partner with Wayne Wingenbach, who will remain as president, and the management team.

Established in 1975, Wingenback provides businesses and organizations in Canada with solutions in ATM-related products, industrial moving and project management services. It has customers in a range of industries, including financial services.

The acquisition is Equicapita’s twelfth to date and its first in the industrial and commercial logistics space. It was led by Vice President, Investments, James Hirsch.

PRESS RELEASE

Equicapita Announces Acquisition of Majority Stake in Wingenback Inc.

CALGARY, Aug. 8, 2019 /CNW/ – Equicapita Income Trust and Equicapita Investment Corp. (collectively “Equicapita”) are pleased to announce the completion of the acquisition of a 70% equity ownership of Wingenback Inc. (“Wingenback” or the “Company”) by a wholly-owned subsidiary of Equicapita (the “Acquisition”).

Founded in 1975, Wingenback is one of Canada’s premier industrial and commercial logistics businesses. Wingenback provides businesses and organizations across Canada with premier solutions in ATM-related products, high-end industrial moving and project management services. The Company serves a broad span of industries with roots in the financial and banking sector. Wingenback has five divisions that service Canada with their head office in Calgary, Alberta.

The opportunity to partner with Wayne Wingenbach, who will remain as President, and his management team, provides Equicapita with a solid foundation to successfully continue the evolution of the business and a platform to position the Company for growth. “The leadership team at Wingenback has consistently demonstrated an ability to achieve and surpass their customers expectations resulting in significant long-term relationships and repeat business,” said Equicapita co-founder, Michael Cook. “Wingenback’s ability to coordinate logistics and transport high value goods ranging from bank vaults to MRI machines highlights the diverse nature of the business. The Company’s geographical presence across Canada and multi-industry exposure adds great depth to Equicapita’s portfolio diversification.”

Consistent with Equicapita’s investment mandate of assembling a diversified portfolio of long-established Canadian businesses, Wingenback has 44 years of operating history. Wingenback’s consistent history of strong profitability and solid customer and supplier relationships, along with the continuity of operations by its dedicated staff, represent cornerstones of Equicapita’s investment strategy.

The Acquisition represents Equicapita’s twelfth portfolio company acquisition and its first in the industrial and commercial logistics industry. Equicapita’s deal team was led by James Hirsch, with key contributions from Matt Barr, Kerri Furlong and Hass Keshavji. Equicapita retained PricewaterhouseCoopers LLP as financial advisors and Norton Rose Fulbright Canada LLP as legal advisors in connection with the Acquisition. Wingenback retained MNP Corporate Finance as financial advisors and Hooey & Company as lawyers in connection with the Acquisition.

About Equicapita

Founded in 2013, Equicapita is a private company buyout fund with offices in Calgary, Alberta and Burlington, Ontario with over $250 million in AUM focused on acquiring private, Canadian businesses with enterprise values ranging from $5 million to $50+ million.

For further information: Michael Cook, Director, Tel: 587.887.1538, E-mail: mcook@equicapita.com