A Halifax, Nova Scotia, Canada investment company has acquired A.W. Leil Holdings Ltd., a crane rental and lift services business, according to online Canadian news reports. After making the acquisition of the Thorburn, N.S.-based company, the investment firm, SeaFort Capital then sold a minority stake in the company to two senior managers, Larry MacDonald and Robert Fraser.
SeaFort began doing business in March, seeking acquisitions of Canadian companies in the $2 million to $10 million range. A. W. Leil is its first acquisition. SeaFort hopes to invest in “old economy” companies in industries such as manufacturing and distribution. A. W. Leil has a fleet of more than 50 cranes, including a 660-ton crawler crane. The company, also doing business as Sagadore Cranes and Cape Breton cranes, operates in Atlantic Canada and Quebec.
SeaFort’s primary financial backers include Scott McCain, president of Maple Leaf Food’s agribusiness group and owner of the Saint John Sea Dogs hockey team. The company is based nearby in Nova Scotia and developed a relationship with A.W. Leil management over a period of time, the reports said.