Canadian private investment firm Stern Partners has acquired an undisclosed majority interest in McRae’s Environmental Services Ltd, a Delta, B.C.-based infrastructure maintenance and environmental services business providing hydro-excavation, vacuum truck and liquid waste hauling services. All existing investors will retain an interest in the company. Stern Partners’ vice president Chris Tsoromocos said the transaction will support McRae’s strategic direction and plans for expansion while maintaining current levels of customer service. Based in Vancouver, Stern Partners focuses on investing in businesses in various industries, including manufacturing, distribution, retailing, publishing, printing, packaging and real estate.
Stern Partners Inc. Acquires Majority Interest in McRae’s Environmental Services Ltd.
VANCOUVER, BC (November 19, 2013) Stern Partners Inc. (“Stern Partners”) is pleased to announce that it has completed the purchase of a majority interest in McRae`s Environmental Services Ltd. (“McRae`s”). All existing shareholders will be retaining an interest in McRae’s.
McRae’s, headquartered in Vancouver, British Columbia, is a leading infrastructure maintenance and environmental services business providing hydro-excavation, vacuum truck and liquid waste hauling services to customers throughout British Columbia, Saskatchewan and Manitoba. McRae’s employs over 115 experienced operators and has the largest equipment fleet in its core Greater Vancouver and Vancouver Island markets with over 80 specialized vehicles providing services to a broad range of governmental, heavy construction, oil & gas, commercial, industrial, utility and institutional customers.
“The future prospects for McRae’s and the hydro-excavation and vacuum truck industry in Western Canada are impressive”, said Chris Tsoromocos, Vice President of Stern Partners. “We are supportive of the strategic direction that the company has embarked on and are excited about McRae’s expansion plans while ensuring we maintain its high-quality customer service.”
“Our investment partners, Stern Partners, are well-established, credible and have a proven track record of supporting their investment holdings,” said Drew Clarke, General Manager of McRae’s. “Operating and expanding our business with the backing of such an experienced investment partner will provide the resources necessary to grow our business with our valued customers across Western Canada.”
About Stern Partners Inc.
Stern Partners Inc., founded by Ronald N. Stern, is a private investment firm headquartered in Vancouver, BC with business activities in a variety of industries, including manufacturing, distribution, retailing, publishing, printing, packaging and real estate. Each business is operated and managed independently, with a focus on long-term growth and value creation.
For further information, visit www.sternpartners.com.
About McRae’s Environmental Services Ltd.
McRae’s Environmental Services, established in 1955, is a leading infrastructure maintenance and environmental services business in Western Canada and offers a large, modern fleet of specialized equipment and highly trained personnel to their diverse customer base. Its main services are hydro-excavation, liquid-waste hauling & disposal, holding tank rental & service, hazardous waste disposal & management, mainline sewer cleaning and CCTV pipeline inspection.
For more information, visit www.mcraes-enviro.com.
Photo courtesy of McRae’s Environmental Services Ltd.