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Mosaic Capital Corporation Enters into Agreement to Acquire Mackow Industries
Mosaic Capital Corporation Enters into Agreement to Acquire Mackow Industries Mosa...
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[{"type":"text","content":"\n\n\n\nMosaic Capital Corporation Enters into Agreement to Acquire Mackow Industries\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nMosaic Capital Corporation Enters into Agreement to Acquire Mackow Industries\nCanada NewsWire\nCALGARY, Aug. 2, 2016\n\n\n\nCALGARY, Aug. 2, 2016 /CNW/ - Mosaic Capital Corporation (\"Mosaic\") (TSX-V Symbols: M and M.PR.A) is pleased to announce that it has entered into an agreement to acquire an 80% interest in the business being carried on by Mackow Industries (\"Mackow\").  The remaining 20% will be retained by key management of Mackow.\n\nFounded in 1985 and based in Winnipeg, Manitoba, Mackow is a manufacturer of precision fabricated metal components.  Mackow's primary market is North American manufacturers of transit buses and highway motor coaches.  Mackow's manufacturing facility has approximately 115 employees.\n\nMosaic's cost of the acquisition is $29.50 million, subject to typical post-closing adjustments and will be funded through a combination of cash and vendor take-back financing.  In addition, there is a two year Vendor earn out provision to be paid to the vendors if the business meets specified targets. \n\nBob Mackow, President of Mackow stated \"Mackow has established itself as a trusted leading supplier to the largest players in the transit bus and motor coach industry by providing consistently exceptional responsiveness, service and quality.  Our partnership with Mosaic will provide us with the range of additional resources required to expand our business to meet the growing needs of our customers.\" \n\n\"We are excited about our partnership with Mackow\" commented Harold Kunik, President of Mosaic.  \"The team at Mackow has done an excellent job of positioning and growing the business.  This acquisition brings further industry and geographic diversity to Mosaic's portfolio as well as direct participation in the compelling North American transit bus and motor coach industry.\"  \n\nABOUT MOSAIC CAPITAL CORPORATION\n\nMosaic is a Canadian investment company that owns a portfol...