TerraVest completes $54 mln acquisition of Clarke-backed Gestion Jerico

Canadian private equity firm TerraVest Capital has completed its buy of Gestion Jerico Inc, a Québec-based manufacturer of commercial and residential tanks as well as dispensers. The transaction, which was announced in Jan. 2014, valued the company at $54 million. TerraVest said the acquisition would allow for co-ordination and streamlining of manufacturing processes at Gestion Jerico and another portfolio company, RJV Gas Field Services, as well as cross-selling of products. Gestion Jerico was sold by majority owner Clarke Inc, a Halifax, Nova Scotia-based investor in private and publicly-traded companies. TerraVest has it headquarters in Vegreville, Alberta.

PRESS RELEASE

TerraVest Capital Inc. Completes Acquisition of Gestion Jerico Inc.

VEGREVILLE, Alberta and TORONTO, Feb. 15, 2014 /CNW/ – TerraVest Capital Inc. (TSX:TVK.TO – News) announced today the successful completion of its acquisition of all the shares of Gestion Jerico Inc., a privately-owned Quebec based company primarily focused on manufacturing high quality commercial and residential tanks as well as dispensers for a variety of industries in North America. The acquisition was first announced on January 30, 2014.

SOURCE TerraVest Capital Inc.

Contact:
For further information please contact Dale Laniuk, Chief Executive Officer and President, TerraVest Capital Inc. at 780.632.7774×205, Mitchell Gilbert, Chief Investment Officer, TerraVest Capital Inc. at 416.364.0064, Paul Casey, Chief Financial Officer, TerraVest Capital Inc. at 780.632.2040 or Charles Pellerin, Executive Chairman, Gestion Jerico Inc. at 819.758.3161.

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