OMERS Private Equity Acquires Nordco Inc.TORONTO, ONTARIO--(Marketwire - June 1, 2009) - OMERS Private Equity, the private equity arm of the OMERS Worldwide group of companies, announced today that it has acquired Nordco Inc. from funds represented by The Riverside Company. Nordco, based in Oak Creek, Wisconsin, is the leading designer, manufacturer, and supplier of critical products and services that help maintain rail infrastructure throughout North America. Nordco has been manufacturing maintenance-of-way equipment for over 80 years and provides comprehensive solutions for the Class 1 North American, regional and short-line railroads, equipment leasing companies and a broad variety of industrial customers. "Nordco is a great addition to our North American portfolio with its market-leading position and long history of responding to the demands of its customers," said Paul Renaud, President and CEO of OMERS Private Equity. "We look forward to working closely with the management team to continue the growth and financial success of the business." Nordco operates manufacturing facilities in Oak Creek and Oshawa, Ontario. Nordco companies include: Dapco Industries of Ridgefield, Connecticut; Nordco Rail Services of Lee's Summit, Missouri; Shuttlewagon of Grandview, Missouri; and J.E.R. Overhaul of Arcola, Illinois. "We are extremely excited to partner with the OMERS team and look forward to our joint prospects," said Bruce Boczkiewicz, President and CEO of Nordco. "We expect to take our market leadership and already strong performance in this tough economy and leverage the OMERS support and expertise to reach even higher levels of performance in the future." Acquisition financing was provided by GE Capital, Allied Capital and OMERS Administration Corporation. About OMERS Private Equity OMERS Private Equity manages the private equity activities of OMERS Administration Corporation and today has $4 billion of investments under management. The group's investment strategy includes the active ownership of businesses in North America and Europe. For further information visit: www.omerspe.com. About OMERS OMERS is one of Canada's largest pension funds and was recently voted one of Canada's top 50 employers by Hewitt Associates. OMERS administers the pension plan and provides retirement benefits to more than 390,000 members operating across the municipal government sector in the province of Ontario. The OMERS Worldwide brand represents the various OMERS investment entities, including OMERS Strategic Investments, OMERS Private Equity, OMERS Capital Markets, Borealis Infrastructure, and Oxford Properties Group. -30- FOR FURTHER INFORMATION PLEASE CONTACT: OMERS Private Equity OR OMERS Private Equity Website: www.omerspe.com |
