Burlington, ON July 13, 2021 / – Newlook Capital Inc. (“Newlook Capital“), a private equity firm invested in industrial and infrastructure services companies, is pleased to announce the sale of Multigas Detection & Instrumentation Services Group Inc. (“Multigas Detection”) located in Edmonton, Alberta and Valley Technologies Ltd. (“Valley Technologies”) located in Winnipeg, Manitoba, to a private equity firm based in the United States.
Newlook Capital Industrial Services Fund I acquired Multigas Detection in 2016 and Valley Technologies in 2017.
“We have grown the businesses considerably and determined that this was the best time to sell these businesses for the benefit of our investors,” said Elroy Gust, Newlook Capital’s Chief Executive Officer.
“The sale of Multigas Detection and Valley Technologies represents our second exit transaction in 2021. We successfully completed the sale of Newlook Capital’s elevator platform to a strategic buyer, and we successfully completed this sale of Newlook Capital’s gas detection platform to a private equity firm. Our ability to acquire, grow and sell our businesses to a variety of potential buyers has importantly proven our investment thesis,” added Abbas Osman, Newlook Capital’s Chief Investment Officer.
The transaction was completed on July 2, 2021.
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. This press release is for informational purposes only and should constitute nor be taken as an offer or solicitation to buy or sell securities.