CALGARY, Alberta, Oct. 31, 2017 (GLOBE NEWSWIRE) -- Founders Advantage Capital Corp. (TSX-V: FCF ) (the “Corporation” or “FA Capital”) is pleased to announce that it has completed its previously announced acquisition of a 50% interest (the “Transaction”) in Astley Gilbert Limited (“Astley Gilbert” or “AG”) for $24.7 million (the “Purchase Price”), subject to customary post-closing adjustments. The Purchase Price was funded through a combination of cash and vendor take back financing.
Astley Gilbert, founded in 1970, has 13 locations across Ontario offering non-traditional digital printing and imaging solutions to over 6,000 active customers in a wide range of industries. In recent years, AG has enjoyed significant organic as well as acquisition growth and has become a consolidator in the industry with the largest market share for architectural, engineering and construction (“AEC”) reproductive printing in Ontario. AG prides itself by offering its customers same day AEC imaging in addition to online project management tools and onsite managed print services. Astley Gilbert’s clients include some of the largest AEC firms in Ontario and Astley Gilbert’s solutions are used in key infrastructure projects across Ontario. From airports to transit lines to commercial buildings, Astley Gilbert is the leading provider of drawings to all industry participants.
In addition to its AEC solutions, Astley Gilbert provides digital print services, high-end brochures, variable data printing, large format graphic displays, online data storage and management solutions, warehousing and logistics and vehicle wraps. Astley Gilbert’s customers include some of the largest retailers and product manufacturers in the country, which entities require various imaging services including in-store displays, signage and marketing materials. Since inception, Astley Gilbert’s business model embraces technology and industry changes to drive growth, profitability and productivity. More information about Astley Gilbert can be found at www.astleygilbert.com .
On closing of the Transaction, the board of directors of Astley Gilbert was comprised of Wayne Wilbur, Ari Yakobson, Stephen Reid, James Bell and Amar Leekha.
For further information on the Transaction, please refer to the Corporation’s press release dated October 16, 2017.
About Astley Gilbert Limited
Founded in early 1970, Astley Gilbert has grown from a small company serving the on-demand document needs of the construction industry to a full-service print and imaging solutions provider to companies across a wide range of industries. The company expanded by adding more branches, more equipment and more expertise, all of which are supported by strong operational capabilities and a company-wide culture that focuses on customer satisfaction and doing whatever it takes to meet their needs.
For the last three decades, Wayne Wilbur, President & CEO, has helped to shape Astley Gilbert into what it is today. Astley Gilbert has the highest market share in Canada for AEC reprographic (blueprint) services, as well as a strong and growing position for digital and offset print solutions offering high-end brochures, variable data printing and large format graphic displays, including outdoor signage.
Astley Gilbert’s product and service diversity is expected to continue to expand in both value-add print solutions as well as non-print services. With multiple production facilities, over 70 radio-dispatched customer service vehicles across Ontario and global delivery capabilities, Astley Gilbert has become a leader in delivering on-demand solutions, on paper and online.
About Founders Advantage Capital Corp.
The Corporation is listed on the TSX Venture Exchange as an Investment Issuer (Tier 1) and employs a long-term investment approach. The Corporation has developed an investment approach to create long-term value for its shareholders and partner entrepreneurs (investees) by pursuing controlling interest acquisitions of cash flow positive, premium middle-market privately-held entities. The Corporation seeks to win mandates by appealing to the segment of the market which is not aligned with traditional private equity control, royalty monetizations or related structures. The Corporation's innovative platform offers incentives (contractually) for growth in favour of its partner entrepreneurs. This unique platform is designed to appeal to entrepreneurs who believe in the growth of their businesses and who want the added ability to continue to manage the business with a long-term partner.
The Corporation's common shares are listed on the TSX Venture Exchange under the symbol “FCF”.
For further information please refer to the Corporation's website at www.advantagecapital.ca .
Contact information for the Corporation is as follows:
| Stephen Reid Chief Executive Officer 403-540-5411 sreid@advantagecapital.ca | James Bell Chief Operating Officer 403-455-2218 jbell@advantagecapital.ca |
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
