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.
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.
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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