Triple M Modular Ltd., a portfolio company of TriWest Capital Partners IV, L.P. since August 2013, has completed previously announced acquisition of substantially all of the assets and liabilities of Britco Manufacturing from WesternOne Inc. (TSX: WEQ).
WesternOne received cash consideration of $2.5 million at closing. The transaction is subject to post-closing adjustments relating to working capital and up to an additional $2.5 million contingent on earnings from the business sold for the 12-month period following the close of the transaction.
Langley, British Columbia based Britco Manufacturing provides innovative modular construction solutions, with design-build and turn-key capabilities, for permanent applications such as multi-user buildings, hotels and lodges and offices, and relocatable structures such as office complexes, construction site offices and workforce accommodations.
Raymond James Ltd. acted as financial advisor to WesternOne in connection with the transaction.
photo credit: Triple M Modular