Business
Canadian Equipment Rental Fund Limited Partnership Announces Proposed Acquisition of Two Rental Equipment Operations
Canadian Equipment Rental Fund Limited Partnership Announces Proposed Acquisition of Two Rental E...
About this update from Zedcor Inc
[{"type":"text","content":"\n\n\n\n Sep. 28, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\nTSX Venture Symbol: CFL.UN\n\nCALGARY, Sept. 28 /CNW/ - CERF GP Corp., the general partner of Canadian Equipment Rental Fund Limited Partnership ("CERF LP" or the "Partnership"), is pleased to announce that it has signed a non-binding letter of intent (the "LOI") to purchase all of the assets of a private Alberta based equipment rental company ("Rentco"). Rentco currently operates two rental, sales and service locations in central and western Alberta. The transaction is expected to be completed by mid November subject to due diligence, financing considerations, approval by the TSX Venture Exchange, other regulatory approvals and other customary conditions. The current management team of Rentco will stay on to manage the operations.\nMr. Wayne Wadley, President of CERF GP Corp. states, "We are excited about this acquisition in that there are several immediate synergies with our 4-Way Equipment Rentals ("4-Way") operations. This acquisition will provide for both 4-Way and Rentco to supply our common customer base with a larger fleet of equipment but also with products which are currently unique to each of the respective operations.\nThe acquisition also opens up the potential to access each of Rentco's and 4-Way's unique customer bases and introduce products and services not currently provided by that operation. It also gives the CERF LP organization a much large...