TORONTO, Oct. 31, 2017
Roynat Equity Partners, along with their partners in the transaction, Tepper Holdings Inc. ("THI" ), are pleased to announce the sale of their majority equity ownership interest in Comtrad Strategic Sourcing Inc. ("Comtrad") to Ardenton Capital Corporation and Comtrad President, Jim Long.
Based in Mississauga, Ontario, Comtrad is a leading importer and distributor of hardware and component products to furniture, kitchen and bath cabinet manufacturers and distributors throughout North America. With over 45 years of experience, Comtrad provides a "one-stop" solution for OEMs to outsource all facets of their supply chain with top quality products from Asia.
Under the ownership of Roynat Equity Partners and THI, Comtrad has expanded its operations and developed an innovative approach to outsourcing manufacturing, which in turn, has allowed it to service a wide range of industries.
"Comtrad and its management team have built a leading distributor in the industry that allows it to compete across North America", said David Daum, President and CEO of Roynat Capital. "The company is well positioned to continue creating new opportunities".
"With the support provided by Roynat and THI, Comtrad has experienced significant growth and diversification and can now continue that momentum with a new partner", said Comtrad President, Jim Long.
Grant Thornton Corporate Finance served as exclusive financial advisor and Loopstra, Nixon LLP served as legal counsel to Roynat Equity Partners and THI in connection with the sale.
TORONTO, Oct. 10, 2017
Ron Tepper, Founder and CEO of Tepper Holdings Inc. (THI) and Chairman and CEO of Consolidated Fastfrate Inc. announced today that THI has acquired the outstanding Fastfrate shares held by the New York based private equity firm, Fenway Partners.
Included in the shares acquired are companies Canada Drayage Inc. (CDI), Fastfrate Integrated Logistics and Consolidated Fastfrate. According to Mr. Tepper, “We have come full circle. We sold 75% of the company to Fenway in December 07 and have now bought back those shares in two installments in March 2013 and September 2017.” Tepper adds, “I am very proud it is back in Canadian hands. I am grateful to the 1,500 people employed by Fastfrate and the extreme hard work, through some very trying times to make this purchase possible.”
CDI is the only national drayage company in Canada and serves all ports from Vancouver to Halifax. It employs a total of 400 drayage drivers and is currently experiencing fast paced growth at approximately 100 drivers per year.
Fastfrate Integrated Logistics is a 3rd party logistic operation, with offices in Montreal, Toronto, Calgary and Vancouver and has expanded coverage and capacity through an extensive highway and intermodal partner carrier network.
Consolidated Fastfrate is one of Canada’s largest LTL carriers, located adjacent to CP Rail yards in every city from Montreal to Vancouver and is the largest repositioner of steamship containers on CP Rail’s line. Fastfrate also has expedited trucking services to and from all cities in Canada and currently handles in excess of 1 billion lbs of LTL freight per year.