Texada buys rental house and equipment dealership
By Canadian Press
NewsAugust 3, 2011 - Texada Software has struck deals to buy two U.S. based businesses for about US$11.5 million. The Guelph, Ont. company said it has bought Rolls Scaffold and High Reach Equipment, a southern California-based aerial equipment rental business, for US$10.7 million. The other is DixEquip, a Houston, Texas-based construction equipment dealership business, bought for about US$800,000.
"These transactions mark a very
significant milestone for Texada," said William Swisher, the company's
CEO. "The board of directors mandated that we seek out the best
strategic transactions for Texada to generate additional shareholder
value and secure Texada's future, and we believe the SoCal and DixEquip
acquisitions represent a compelling platform to successfully achieve
this goal. The vertical integration of Texada into the equipment rental
and dealership space will be an added benefit for all the company's
stakeholders, including our existing customer base and valued
employees."
In another development, Texada also
announced a non-brokered private placement of up to 40 million common
shares at 10 cents each to raise $4 million to help finance the U.S.
purchases.
Related links
Texada Software
Rolls Scaffold and High Reach Equipment
DixEquip
Swisher named CEO of Texada
Texada Software appoints new sales executive
Print this page
Leave a Reply