TorQuest Partners has completed the acquisition of North West Rubber Ltd, manufacturers of recycled rubber products
TorQuest Partners Acquires North West Rubber
Founded in 1968 and based in Abbotsford, BC, NWR’s products are sold throughout North America into a variety of end markets including the farm, consumer, athletic facility, and industrial channels. NWR is led by Leighton Friesen, President, and CEO, who has served in this role since 2007.
Under the leadership of Leighton and the management team, NWR has grown rapidly over the last 14 years, supported by a dedicated workforce of over 220 employees throughout North America. NWR‘s operations include three manufacturing facilities located in Abbotsford, BC, Brantford, ON, and Houston, TX, a tyre-recycling joint venture, Evolve Recycling Inc, also based in Brantford, ON, and various strategic manufacturing partnerships in Asia.
Under TorQuest’s ownership, the company will continue to be run by Leighton and his senior management team, all of whom will remain significant investors in the business.
Daniel Sonshine, Partner at TorQuest, says: “This is the sixth platform investment for TorQuest Partners Fund V and continues to showcase our well-established strategy of investing in great Canadian businesses. We are excited to partner with the NWR team and support their next phase of growth.”
Leighton Friesen, President & CEO of NWR, says: “We are thrilled to be taking on a strong new partner who believes in the significant growth potential of our business. We look forward to leveraging TorQuest’s capabilities and relationships to help drive continued growth and long-term success at NWR.”
Source: Private Equity Wire