Canadian Tarpaulin Manufacturers Ltd. (CTM), a Saskatoon based protective covering provider, announced today that it has completed the acquisition of S.M.A.R.T. Bag Distribution (“S.M.A.R.T”) , a prominent Saskatchewan based grain bag distribution company.
CTM began distributing grain bags in 2014 to compliment an already robust agricultural product line. “Since its inception in 1980, CTM has been a leader in providing crop protection products to agricultural product dealers and producers in Western Canada” said Curtis Chapman, President and CEO of CTM. Chapman continues, “With the acquisition of S.M.A.R.T we have now positioned ourselves as one of Canada’s leading grain bag distributors, with over 20 active grain bag dealers in Alberta, Saskatchewan, Manitoba and the United States”. Chapman goes on to say, “We are very excited about the acquisition of S.M.A.R.T, we intend to build on their solid foundation, while combining our current products and services to grow sales and pursue further market penetration”.
Financing for the acquisition was arranged by Westbridge Capital Partners Income Trust, a mezzanine debt fund managed by Westbridge Capital Ltd.
For more information, please contact Andrew McCready at 306-261-5477 or Andrewm@westbridgecapital.ca.
About Canadian Tarpaulin Manufacturers Ltd.
Canadian Tarpaulin Manufacturers Ltd. is an industrial fabrics provider in Canada. The company has continued to grow and evolve since its inception in 1980 and now offers a wide variety of stock and custom made products for use in the agricultural, industrial, transportation, resource and recreational sectors. The Company’s products are primarily marketed through wholesale and direct channels to retailers throughout western and northern Canada and the mid-western United States.
About Westbridge Capital Ltd.
Westbridge is a private equity management company. Westbridge focuses on real estate and private equity investments that by their nature have little correlation to publicly listed securities and may be used to diversify a portfolio and reduce overall portfolio risk and volatility.