Signal Hill Completes Acquisition of C&V Portable Accommodations Ltd.
TORONTO, ONTARIO--(Marketwire - March 6, 2012) - Signal Hill Equity Partners ("Signal Hill") announced today that it has acquired, along with the members of the management team, C&V Portable Accommodations Ltd. ("C&V" or the "Company"), a leading Alberta-based oilfield services provider that specializes in oil and gas wellsite portable accommodations, remote offices and dedicated geology/engineering labs.
"C&V is an excellent fit with Signal Hill's strategy of partnering with the management teams of differentiated companies," said James C. Johnson, Managing Partner, Signal Hill. "The transaction enables C&V to remain private and its management team to focus on growing the company with new product lines and geographic expansion opportunities, while continuing to provide superior services."
"The C&V team is extremely excited to have Signal Hill on board which will provide the financial and strategic support needed to continue to grow with our customers' needs," added Tim Vermaat, Chief Executive Officer of C&V.
Established in 1977, C&V has grown to become one of Alberta's leaders in the wellsite accommodations industry. C&V has a broad customer base of exploration and production companies and has distinguished itself as a provider of choice over its 35 year operating history. C&V has a long track record of innovation in the industry and services some of the largest oil and gas companies in Canada by renting units from its fleet as well as manufacturing custom made products. With its head office and manufacturing facilities located in Calgary, C&V is able to service it's customers across Western Canada.
Signal Hill Equity Partners is a Toronto-based private equity firm managed by experienced investors and business operators, focusing on Canadian mid-market companies. The Signal Hill team has completed over 100 transactions across a variety of industries including financial services, specialty distribution, business services and manufacturing businesses. Members of the Signal Hill team have partnered and worked with management teams to build some of the most successful businesses of their kind in Canada and the United States.
Signal Hill Equity Partners is currently investing its second private equity fund, a $100 million fund that can be invested at its discretion in mid-market Canadian companies.
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