TorQuest Partners to acquire North West Rubber
NWR's operations include three manufacturing facilities located in Abbotsford, BC, Brantford, ON, and Houston, TX, a tire-recycling joint venture, Evolve Recycling Inc., also based in Brantford, ON.
recycled virgin rubber manufacturing
TORONTO— TorQuest Partners announced that it has completed the acquisition of North West Rubber Ltd., a manufacturer and distributor of recycled and virgin rubber matting and other flooring products.
NWR’s products are sold throughout North America into a variety of end markets including the farm, consumer, athletic facility, and industrial channels. Leighton Friesen has served as the company’s President & CEO for the last 14 years.
The company is supported by a 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 tire-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.
“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,” said Daniel Sonshine, Partner at TorQuest in a company statement.
According to a statement, Friesen said the company is thrilled to be taking on a strong new partner.
“We look forward to leveraging TorQuest’s capabilities and relationships to help drive continued growth and long-term success at NWR,” he said in a statement.