CPE News (7.06.2022) – PragerNuform Inc. has been acquired by an investor group led by Fort Succession Capital.
Founded by Jason Pridmore, PragerNuform is a full-fledged, well-respected organization with diverse in-house capabilities including design, custom manufacturing, packaging, warehousing, delivery, installation, dismantling, recycling, consulting, and project management.
Laolu Fashesin, founder & CEO of Fort Succession Capital, has assumed the role of full-time CEO at PragerNuform. PragerNuform’s current management team and employees will continue to be integral parts of the company.
McMillan LLP and Grant Thornton acted as advisors to Fort Succession Capital. Langlois Konrad Inkster LLP acted as legal advisor to PragerNuform and selling shareholders.
photo credit: PragerNuform
News Release
Fort Succession Capital, an Entrepreneurship Through Acquisition firm, Acquires PragerNuform Inc.
TORONTO, ON, June 14, 2022 – PragerNuform Inc. (“PragerNuform”), a custom producer and supplier of retail displays, store fixtures, trade show and promotional displays since 1938, is pleased to announce that it has been acquired by an investor group led by Fort Succession Capital (“Fort”), an Entrepreneurship Through Acquisition firm.
PragerNuform brings together Wm Prager Ltd. and its 80+ years of serving thousands of Canada and U.S. retailers; Nuform Manufacturing and its 20+ years of innovative point-of-purchase displays and manufacturing capabilities; and Accenta Display that has been providing portable display solutions in the international trade shows and exhibits market for over 30 years.
Laolu Fashesin, Founder & Chief Executive Officer (“CEO”) of Fort Succession Capital has assumed the role of full-time CEO at PragerNuform. The PragerNuform Inc. current management team and employees will continue to be integral parts of the company, ensuring stability and continually improving customer success. Fort’s investor group will further support PragerNuform’s plans for continued improvement and growth.
“Partnering with Fort is an exciting moment for PragerNuform. This is an excellent match, and our complementary skills will enable us to build on our service quality. Fort is backed by an outstanding and experienced investor group, with a mission to strengthen and grow the business. They share our commitment to ensuring our customers, employees, and suppliers are well taken care of. I will have ongoing involvement in PragerNuform to help guide the team and assure our valued clients that the stability and quality of work will not be compromised,” said Jason Pridmore, former President of PragerNuform.
On this new journey, new PragerNuform CEO Laolu Fashesin commented, “PragerNuform has a dedicated team of professionals whose capabilities and focus on customer service have driven much of the company’s success over the years. I am thrilled to be a part of this organization and look forward to accelerating its growth, in partnership with the existing employees and suppliers. With the renewed investment and focus, PragerNuform is poised to provide excellent customer service, a satisfying work environment, and new ways to strengthen and grow the business in the long-term.
Fort Succession Capital would like to thank their legal advisors at McMillan LLP for their due diligence, structuring and transaction support, and Grant Thornton for their financial and tax due diligence advisory services. Langlois Konrad Inkster LLP acted as legal advisors to the selling shareholders of PragerNuform.
About PragerNuform Inc.
PragerNuform Inc. was founded by Jason Pridmore as a small manufacturer and supplier of retail displays, and has evolved into a full-fledged, well-respected organization with diverse in-house capabilities including design, custom manufacturing, packaging, warehousing, delivery, installation, dismantling, recycling, consulting, and project management. The company has been successful in creating a team of dedicated professionals, who are by far its greatest asset, as well as long-term relationships with valued customers and suppliers who have been fundamental to the company’s success. Learn more at www.pragernuform.com
About Fort Succession Capital
Founded by Laolu Fashesin, Toronto-based Fort Succession Capital is a private investment firm set up to acquire and operate one private company in Canada, with a focus on building on the existing legacy. Fort will implement the succession plan centered around value creation for all stakeholders and provide an exit opportunity for the current business owner(s). With the dedicated support and financial backing of a group of experienced Canadian entrepreneurs, investors, and operators; we will partner with the existing management team, employees, and suppliers to ensure continued success of customers in the long term, and a beneficial impact on the community and the environment. Learn more at www.fortsuccessioncapital.com.
SOURCE PragerNuform Inc.
For further information: Laolu Fashesin, Chief Executive Officer of PragerNuform Inc. laolu@pragernuform.com