ISH Capital Inc. completed the acquisition of Chadwick-BaRoss, Inc. from Strongco Corporation for $12.4 million.
September 29, 2016
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ISH Capital Inc. agreed to acquire Chadwick-BaRoss, Inc. from Strongco Corporation (TSX:SQP) for $12.8 million on August 4, 2016. The purchase price remains subject to satisfactory completion by ISH Capital of its due diligence investigations. The deal is subject to among other matters, finalizing and executing a definitive purchase and sale agreement, satisfactory completion by ISH Capital of its due diligence investigations, obtaining certain third party approvals and final approval of the independent directors of Strongco’s Board. The proposed closing date for the transaction is on or about September 9, 2016 or such other date as may be mutually agreed to by the parties. The proceeds from the completion of the transaction would be used by Strongco to reduce its indebtedness under its credit facility, pay trade payables and fund its operations.
ISH Capital Inc. completed the acquisition of Chadwick-BaRoss, Inc. from Strongco Corporation (TSX:SQP) for $12.4 million on September 30, 2016.
Strongco Corp is a Canada-based company. The Company sells, rents and services equipment used in diverse sectors such as construction, infrastructure, mining, oil and gas, utilities, municipalities, waste management and forestry. It represents equipment manufacturers with globally recognized brands, including Volvo Construction Equipment, Case Construction, Sennebogen, Manitowoc Crane, including National and Grove, Fassi, Konecranes, Eco Log, and Allied Construction. It provides in-field service, in-shop service, refurbishment, component rebuilding, scheduled maintenance, customer service agreements (CSA), extended warranties, equipment inspections, air conditioning, painting services, hydraulic repairs and others.
STRONGCO CORPORATION 