Equicapita Income Trust and Equicapita Income LP (collectively “Equicapita” or the “Fund”) are pleased to announce the acquisition of a 100% equity ownership of A&R Metal Industries Ltd. (“A&R”), by an affiliate of the Fund. Established in 1969, Richmond, B.C. based A&R is a leading manufacturer of high quality metal parts. Working from a 70,000+ square foot facility, A&R currently supplies the North American Class 8 truck market with a variety of custom trim parts, as well as other speciality manufactured parts for a number of industries, including automotive, commercial and agricultural applications.
“We are extremely pleased to have successfully completed the acquisition of A&R Metal Industries Ltd.” said co-founder, Greg Tooth. “A&R provides us with an excellent opportunity to continue to execute on our investment strategy. A&R is a well-established Western Canadian business with over 40 years of operating history, in a very stable industry. A&R has a long-dated history of consistent profitability and cash flows, strong customer and supplier relationships and, perhaps most importantly, is led by a highly experienced and capable management team. These factors represent cornerstones of our investment strategy. We are very excited to be the new owners of A&R Metal Industries and look forward to working with the existing management team and employees to provide the highest quality products to our customers.”
The A&R transaction closed on December 31, 2014. Equicapita retained Burstall Winger Zammit (“BWZ”) and BDO Canada LLP (“BDO”) as advisors. BWZ provided legal and tax due diligence and structuring support and BDO provided tax and financial due diligence support.