Announcing Carpedia Capital’s Investment in G.W. Anglin Manufacturing
Carpedia Capital is pleased to announce its first investment transaction, following an extensive search and diligence process which culminated on November 1, 2011 with making a significant equity investment in the business of G.W. Anglin Manufacturing (“GWA”).
GWA is a leading upfitter in Canada for large scale, high performance commercial fleets – particularly for the complex vehicles primarily utilized by large natural gas utility, electric utility and telecommunication customers. As one of Canada’s few vertically integrated commercial vehicle upfitters, GWA designs, manufactures and installs a majority of the product it integrates into vehicles – providing customers with turnkey work vehicle solutions. GWA is also a Tier 1 supplier of low volume, light metal fabrications incorporated into heavy equipment vehicles and a Tier 2 supplier of low volume automotive parts.
In the words of Greg Tremblay, “GWA is an entrepreneurial success story in the Canadian manufacturing sector, one which has its best days yet ahead. We believe that the Company is poised to expand significantly as a result of its competitive advantages in quality, delivery, cost and innovation – each of which we expect to further strengthen through application of the Carpedia approach to building great businesses.”
From Carpedia Capital’s perspective, GWA is a great example of the type of business we set out to find. It is a testament to the quality of the company that it was the one business with which we chose to partner out of 125 opportunities reviewed, as well as representative of how many different factors, from pricing expectations and transaction size to suitable competitive positions, nature of operations, the availability of bank financing and personal chemistry, which must all coincide in order to make a good deal.
While we are proud of having made our first investment and completing the transaction, it is important to note that we are only at the very beginning, not the end, of our investment process. Now we must begin to move quickly in strengthening GWA’s competitive advantage, improving its productivity and emphasizing outbound sales effectiveness in order to deliver the business case we premised the investment upon.