Burlington, ON November 23, 2022 / – Newlook Capital Industrial Services Fund II (“Fund II”) and Newlook Capital Industrial and Infrastructure Services Fund III (“Fund III”) are pleased to announce the acquisition of Kost Fire Equipment Ltd. (“Kost Fire”). Fund II and Fund III own Acme Fire and Safety Co. Ltd. (“Acme”) and this acquisition builds on Newlook’s Western Canada fire safety and prevention consolidation strategy. The transaction closed on July 7, 2022.
Acme is a leading fire protection services firm located in British Columbia, providing planning, inspection, maintenance, and fire safety equipment & suppression systems repairs for over 50 years. Acme’s established customer base includes commercial buildings, restaurants and multi-family residential buildings, with customers such as McDonald’s Restaurants of Canada, YVR Airport, and BC Ferries. Acme looks forward to continuing to serve its customers and Kost Fire’s customers going forward.
Kost Fire provides safety product sales and technical service offsite and onsite for oilfield, industrial and agricultural clients. They have been serving their extensive client base since 1956, with locations throughout Southern Alberta. Acme is very pleased to welcome Kost Fire’s leadership team, reporting to Vitor Carvalho, who was recently named President of Acme.
“The management team at Acme looks forward to continuing our work with the team at Newlook on some exciting new potential acquisitions,” says Vitor Carvalho.
“The acquisition of Kost Fire is a great example of working with Newlook operating partners to source and acquire businesses that will continue to grow the platform,” notes Elroy Gust, Newlook’s Chief Executive Officer.
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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