Texada Software will soon change its name to Noble Iron Inc., keeping the Texada name for its software division, the company said this week. The name change was approved by the company’s shareholders and still requires formal approval from its board of directors. The company now operates three complementary businesses: equipment rental, equipment dealerships and enterprise software for the construction and industrial equipment industries.
Noble Rents, the rental division, consists of the former Rolls High Reach in Southern California and a new Texas business. The company recently acquired Bane Machinery in Houston, and is entering the equipment distribution business representing LiuGong Construction Machinery in Southeast Texas.
The company also added Malcolm Hunter, an owner and president and CEO of Deeley Harley-Davidson Canada, the exclusive Canadian distributor of Harley Davidson motorcycles and branded products and services, to its board. Also new to the board is Ron Schwarz, an independent investor with more than 20 years of experience as a senior executive in equity research, wholesale banking and asset management.
“Malcolm’s work of over 35 years has helped establish one of the world’s most renowned brands, Harley Davidson,” said Texada’s executive chairman Nabil Kassam. “Ron has amassed an impressive breadth of capital markets and investment experience over his career. As we expand our technology, equipment rental and dealership platforms, representing established and emerging equipment manufacturers such as Terex and LiuGong, Malcolm’s and Ron’s contribution on the board will strengthen our ability to build a resilient brand and a remarkable company.”
Previous directors James Lolley, Jim McInnis and Brian Spilak did not stand for re-election to the board.
Texada also said the company has completed the closing of its previously announced private placement of 22.5 million common shares at 20 cents per share for gross proceeds of CDN $4.5 million.
Texada Software is based in Guelph, Ontario, Canada.