Burlington, ON June 10, 2022 / – Newlook Capital Inc. (“Newlook”) is pleased to announce that Newlook’s Industrial Services Fund II and Industrial & Infrastructure Services Fund III, have made a joint acquisition of Plumbing Master, Inc. (“Plumbing Master”), based in Riverside, CA. The transaction closed June 3, 2022.
Plumbing Master is a commercial plumbing business with a 35 year history of excellent craftsmanship within the industry. Today Plumbing Master provides services to restaurants, convenience stores, municipalities, and commercial buildings spanning from Los Angeles County to San Diego County. The business has three locations in Southern California, with 85 plumbers and a number of marquee clients including Circle K, Starbucks, Seven Eleven, and Albertsons/Vons.
“I would like to thank Oliver Blum and Mike Harrison for making this complex process a simple one. Their professionalism and insight made it easy for us to say yes to joining the Newlook family. We look forward to growing our business, both organically and inorganically, in the coming years. Thank you very much.” said Andy Lozano, President of Plumbing Master.
“We are very excited to have Andy Lozano and the leadership team be a part of the Newlook family and we are looking forward to growing with them especially in to Northern California”, said Elroy Gust, President & CEO of Newlook, ”a well deserved thank you to the Newlook team for a timely close”.
ABOUT NEWLOOK CAPITAL INC.
Newlook Capital is a private equity firm that currently manages 2 industry-specialized funds. Each fund has its own focused, experienced, and aligned management, and a defined strategy. Investing throughout Canada and the U.S. with a preference for companies that exhibit a solid tangible assets base, Newlook Capital is focused on and current holdings include; industrial services in Canada and the U.S., dental practices, and QSR in Canada. Newlook Capital Inc. took the initiative to establish Newlook Industrial Services II LP and manages the fund. This press release is for informational purposes only and should constitute nor be taken as a offer or solicitation to buy or sell securities.
Cautionary Note Regarding Forward-Looking Information
This press release contains forward-looking information. Such forward-looking statements or information are provided for the purpose of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as “proposed”, “expects”, “intends”, “may”, “will”, and similar expressions. Forward-looking information contained or referred to in this press release includes, but may not be limited to, acquisitions to be completed by the company, the growth of the business.
Forward-looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Although the Company believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, general economic conditions, failing to realize the anticipated benefits from the acquisition of the company, risks associated with valuing investments, risks associated with fire prevention services generally, competition, technological changes and regulatory risks. The forward-looking information in this press release reflects the current expectations, assumptions and/or beliefs of Newlook based on information currently available to the Newlook. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Newlook disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. The forward-looking statements or information contained in this press release are expressly qualified by this cautionary statement.
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