At the time of sale, North West Rubber (“NWR”) was a leading manufacturer and distributor of recycled and virgin rubber matting products. Founded in 1968 and based in Abbotsford, BC, NWR’s products are sold throughout North America into a variety of end markets including the farm, consumer, athletic facility, and industrial channels.
NWR is led by Leighton Friesen, President & CEO, who has served in this role since 2007. The sale of NWR to TorQuest Partners is a very successful conclusion to Krystal’s 9-year partnership with Leighton and the NWR management team. During that time, the company grew rapidly hitting several exciting milestones, including automation of its Brantford, ON facility, investing in a tire-recycling joint venture, opening a new facility in Houston which added significant manufacturing capacity, expanding 3PL and DTC channels, and launching new product lines and e-commerce platforms. Over the term of our investment, the business grew by a CAGR of approximately 20%.
INVESTMENT SNAP SHOT
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