Vancouver, B.C., Canada-based WesternOne Equity Income Fund posted a 56-percent total revenue jump in the first six months of 2008, an increase based largely on several acquisitions, with existing operations also posting same-store revenue growth. Total revenue of CA $15.32 million (U.S. $14.4 million) increased from CA $9.79 million in the same period of 2007.

WesternOne’s acquisition of C&N and Deerfoot Rentals in the first quarter of 2008 contributed incremental revenues of CA $4.41 million and EBITDA of CA$1.26 million for the six-month period.

“WesternOne enjoyed overall sales growth compared to the same period last year,” said Darren Latoski, CEO. “We have achieved this by continuing to execute our expansion strategy with a focus of acquiring companies with exceptional management in place.

Recently acquired businesses C&N Motors Ltd., Comox, B.C., and Deerfoot Equipment Rental in Calgary, Alberta, have both performed well in their first full quarter, and existing operations Production Equipment Rentals and Old Country Rentals, continue to perform well in the B.C. lower mainland and Southern Vancouver Island markets respectively.

“In Q2, WesternOne had several significant achievements,” Latoski said. “In May, WesternOne received approval for the listing of its units and Series A debentures on the Toronto Stock Exchange, and in June WesternOne launched a new equipment rental location in Lethbridge, Alberta.”