Remcan Projects Ltd., a Langley, B.C.-based provider of maintenance, construction and emergency services to the railroad industry, has been acquired by Yellow Point Equity Partners III LP, which is managed by Canadian private equity firm Yellow Point Equity Partners. Yellow Point partnered in the deal with members of Remcan’s management team, including CEO John Thwaites. Proceeds of the investment will allow the company to expand the scope of its services and pursue capital spend opportunities. Based in Vancouver, Yellow Point invests in mid-market businesses located primarily in Western Canada.
YELLOW POINT INVESTS IN REMCAN
For Immediate Release Vancouver, BC
August 30, 2013 – Yellow Point Equity Partners III LP (“Yellow Point”) announced today the closing of the acquisition of Remcan Projects Ltd. (“Remcan”).
Remcan is a leading provider of maintenance, construction and emergency services to the Canadian railroad industry. Headquartered in BC and with operations across Canada, the company has developed a reputation for providing reliable, timely and safe services to the national rail companies and a variety of commercial and industrial clients. With its seasoned and engaged workforce, Remcan is well positioned to take advantage of the cost-effective trend of outsourcing rail maintenance services.
Yellow Point partnered with several members of Remcan’s senior management team in the acquisition. Co-investor John Thwaites will continue to lead the business as CEO alongside senior executives and co-investors Jason Thomas and Tom Winters. John Thwaites stated “With Yellow Point’s capital and growth-oriented approach, we will be able to expand our scope of services and pursue capital spend opportunities as they arise. This will enhance the service offering we currently provide and enable us to deliver more flexible solutions to our customers.”
Brian Begert, Managing Partner of Yellow Point added, “Remcan has been on a strong growth trajectory for several years due to its strong management team, experienced labor force and focus on delivering reliable and safe railway services. We believe Remcan’s future is very bright and look forward to working with management to help the company achieve its next level of success.”
About Yellow Point
Yellow Point Equity Partners is a private equity investment firm with significant operating and investment experience. It invests in outstanding management teams of later-stage growth companies based primarily in western Canada and aims to be the long-term partner of choice for Canada’s leading mid-market companies.
For more information, please contact Brian Begert or visit www.ypoint.ca.
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