Vancouver, B.C. November 6, 2007 – Yellow Point Equity Partners (“Yellow Point”) and Banyan Capital Partners (“Banyan”) are pleased to announce a recent investment in the Shanahan’s Group of Companies (“Shanahan’s”). Yellow Point and Banyan have partnered with existing management to provide capital for growth and liquidity for retiring shareholders.
Shanahan’s is Canada’s largest manufacturer and distributor of specialty construction products into the institutional, industrial and commercial markets. It supply’s over 50 product lines, including metal and wood doors, lockers, washroom stalls and related hardware and accessories. The Company was established in 1928 and is headquartered in Surrey with three other offices in BC, four in Alberta, two in Saskatchewan, one in Manitoba and a manufacturing facility in Calgary.
“Shanahan’s management is excited about partnering with Yellow Point and Banyan to execute our strategic plan and continue to grow the business,” said Bill Mey, President of Shanahan’s. “We are confident in Shanahan’s long-term strategic direction and look forward to working with Yellow Point and Banyan in this next phase of our growth.”
“As the clear leader among suppliers of specialty construction products, Shanahan’s is well positioned to benefit from the continued growth of non-residential construction in western Canada,” said Brian Begert, Managing Partner of Yellow Point.
ABOUT YELLOW POINT
Yellow Point Equity Partners is a private equity investment firm with significant operating and investment experience. It invests in outstanding management teams of later-stage growth companies based primarily in western Canada and aims to be the long-term partner of choice for Canada’s leading mid-market companies. Yellow Point’s approach is supportive, hands-off with respect to day-to-day operations and active when it comes to strategic decisions and board work.
For more information, please contact either Brian Begert or David Chapman, or visit www.ypoint.ca.
Banyan Capital Partners is a private equity firm with offices in Vancouver, British Columbia and Calgary, Alberta. It invests in and buys middle-market companies located primarily in Western Canada and the northwestern United States. Banyan, through its two funds, has $140 million in capital under management.