PRIVEQ Capital Funds Closes Third Investment in PRIVEQ
III Limited
Partnership - R. Nicholls Distributors Inc.
TORONTO, CANADA - PRIVEQ Capital Funds ("PRIVEQ") is pleased to announce that PRIVEQ III Limited Partnership acquired R. Nicholls Distributors Inc. ("Nicholls") in a Management Buy-In. Founded in 1980, Nicholls is Canada's leading supplier of public safety, security and law enforcement equipment and uniforms. PRIVEQ is proud to partner with the new CEO of Nicholls, Mr. Pierre L. Charron.
Mr. Charron remarks that "Throughout the entire transaction process, PRIVEQ has felt right as a partner. From day one, their experienced and dedicated team was responsive and invested in understanding the critical elements. Not only did PRIVEQ supply and coordinate the required professional assistance, but more importantly they provided the strategic input which led to a successful end. That end is now a new beginning for R. Nicholls Distributors Inc., as our team looks forward to the future with great excitement and confidence knowing PRIVEQ is by our side. Nous sommes fiers et confiants avec PRIVEQ à nos cotés".
To facilitate the acquisition and future growth of Nicholls, National Bank of Canada has provided a new operating line and senior term debt and HSBC Capital (Canada) Inc. has provided subordinated debt. PRIVEQ and Nicholls are thrilled to work with both parties and are very excited about the new partnership and growth opportunities for the company.
About R. Nicholls Distributors Inc.
Headquartered in Montreal, Quebec, Nicholls is Canada's leading distributor
of security and law enforcement equipment to private, municipal, provincial
and federal government safety/security agencies. The Company is also Canada's
largest manufacturer/distributor of law enforcement and security guard
uniforms, clothing and apparel for such agencies, in addition to being
a market leading supplier of corporate uniforms and related clothing.
The Company operates three business units including:
- Equipment - distributes over 50 major equipment brands
(representing over 10,000 products) on an exclusive or preferred basis
in Canada for leading global manufacturers;
- Uniform - manufactures and distributes uniform items
for law enforcement, emergency medical services, public and private
security agencies, as well as career apparel including shirts, pants,
sweaters, jackets, undergarments, socks, boots, hats and leather goods
for corporate customers; and
- Service Outlets - operates six Service Outlets that
provide local and national customers with locations for their employees
to place orders, try on sizes, and pick up goods.
For more information about R. Nicholls Distributors Inc. please visit www.rnicholls.com.
About PRIVEQ Capital Funds
Founded in 1994, PRIVEQ manages several private equity portfolios with
assets of $85 million. In April 2006, PRIVEQ completed the final closing
of PRIVEQ III Limited Partnership, the firm's third private equity fund.
Led by BDC Venture Capital, Teachers' Private Capital and Export Development
Canada, total committed capital for PRIVEQ III Limited Partnership is
$57 million. PRIVEQ provides tailor-made equity solutions to profitable
and growing companies through a highly expedited investment approach coupled
with real value-added assistance post-investment. PRIVEQ invests initial
equity capital of $3 - $7 million for expansion capital purposes as well
as to facilitate management buy-outs and buy-ins for profitable niche
service, distribution, and manufacturing companies located within 5 hours
of Toronto, Canada.
Contact Information
PRIVEQ Capital Funds
1500 Don Mills Road, Suite 711
Toronto, Ontario, M3B 3K4
Tel: (416) 447-3330
Fax: (416) 447-3331
Brad Ashley, Managing Partner ______________
Ext. 222
Kevin Melnyk, Partner ______________________Ext.
230
Lee Grunberg, Vice President ________________Ext.
232
Jennifer Wang, Associate ___________________Ext.
233
For additional information about PRIVEQ Capital Funds, please visit www.priveq.ca.
© PRIVEQ Capital Funds, 2011. All rights reserved.