Vancouver, B.C. June 26, 2008 –Yellow Point Equity Partners II LP (“Yellow Point”) announced today the closing of the buyout of Crossroads C&I Distributors Inc. (“Crossroads”).
Crossroads, head officed in Edmonton, is the largest distributor of mechanical insulation in western Canada. With exclusive arrangements with several leading global insulation manufacturers, Crossroads distributes insulation products for a variety of commercial and industrial applications. Crossroads is the supplier of pipe insulation and related products to most of the current and proposed multi-billion dollar oilsands construction projects. It is well positioned to capitalize on the shift toward more environmentally-friendly oilsands extraction.
Yellow Point partnered with several members of the Crossroads senior management team, including President Bill Haun, as well as Roynat Capital in the acquisition of Crossroads.
“We are optimistic about the Company’s future in partnership with Yellow Point,” said Bill Haun, President of Crossroads. “Our culture is highly compatible with Yellow Point and the chemistry that has been established will serve us well as we continue to accelerate our growth.”
David Chapman, Managing Partner of Yellow Point added, “We are attracted to companies which maintain leading market positions, are well managed and have demonstrated a long history of strong profitability. We look forward to working with the management to build value for all stakeholders.”
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.