Harris Williams & Co. is pleased to announce the sale of Nordco, a portfolio company of The Riverside Company, to OMERS Private Equity, a subsidiary of OMERS Administration Corporation (OMERS). The transaction closed May 29, 2009. Harris Williams & Co. acted as the exclusive advisor to Nordco. The transaction was led by Ned Valentine along with Joe Conner from the firm's Transportation & Logistics Group.
"Despite challenging near-term economic conditions, the compelling long-term growth trends for the rail industry and the underlying need for investment in critical infrastructure continues to attract investors and drive substantial capital inflows to the rail sector," said Ned Valentine, Managing Director at Harris Williams. "Nordco's management team, led by CEO Bruce Boczkiewicz and in partnership with The Riverside Company, has built a great company in the sector through key strategic acquisitions as well as critical core product and service expansions. As a result, Nordco has continued to grow through the current economic downturn and is well positioned to play a vital role in the long term growth of the industry. We have greatly enjoyed working with Bruce and his team and we look forward to the continued progression of the Company in partnership with OMERS."
Founded in 1926 and headquartered in Oak Creek, Wisconsin, the Nordco family of companies (www.nordco.com), which includes Nordco Inc., Nordco Rail Services, J.E.R. Overhaul, Shuttlewagon, and Dapco Industries, offers an extensive selection of products and services that help the railroad industry keep its trains running safely, efficiently and on time. In addition to industry-leading new maintenance-of-way (MOW) machinery, Nordco offers rebuilt MOW machinery, a full line of aftermarket replacement parts, in-house and on-site machinery inspection, maintenance and repair, reconditioned machinery rental, railcar movers, and ultrasonic testing services used in a variety of field and factory applications.
The Riverside Company (www.riversidecompany.com) is one of the leading global private equity firms investing in premier companies at the smaller end of the middle market. The firm focuses on industry-leading companies valued at up to $150 million in enterprise value. Riverside has more than $2.7 billion in capital under management and over 180 dedicated professionals in North America, Europe, and Asia with experience to complete deals quickly and smoothly.
OMERS Private Equity (www.omerspe.com) is one of Canada's largest and most accomplished private equity investors. OMERS Private Equity manages the private equity activities of OMERS and today has in excess of $4 billion of investments under management. The group's investment strategy includes the active ownership of businesses in North America and Europe. |
