Burlington ON May 14, 2021 / – Newlook Capital Inc. (“Newlook”) is pleased to announce that Newlook Capital Industrial Services Fund II (“Fund II”) has made an investment in TowerMRL Inc. (“Tower”), based in Cottage Grove, WI. The transaction closed May 10, 2021.
Tower has been in operation for 16 years, and is a multi-service telecommunication tower construction company offering a variety of services related to installation, modification, construction, maintenance and repair of telecommunication towers and facilities. Tower maintains over 20,000 sites across 36 states, with notable clients being American Tower, Harmoni Towers and SBA Communications, among others. Chris Mallon and Ross Royer will continue to lead Tower’s 51 employees in day-to-day operations.
“Chris and Ross have built an incredible business and we are extremely pleased to be partnering with them and further growing the company”, says Newlook’s CEO, Elroy Gust. He adds:
“With this most recent partnership, we look forward to expanding the diversification of our revenue lines within the Fund II portfolio. With superior industry reputation and strong customer relationships, TowerMRL is well positioned for growth.”
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.
Please direct any questions or requests for information to:
905.331.3697 x 207