Penfund completes sale of SureWerx to Riverside
U.S. private equity firm Riverside Co has acquired SureWerx, a Vancouver-based supplier of professional tools, equipment and safety products for workers across North America. No financial terms were disclosed. The seller was Penfund, a Canadian junior capital provider. In 2012, Penfund acquired JET Equipment & Tools Ltd and its affiliates from Diamond Investment Group and merged them to form SureWerx. During Penfund’s ownership period, SureWerx closed four add-on deals and increased its presence in Canadian and U.S. safety markets. In a statement, Riverside said it will partner with existing management, led by CEO Chris Baby, to further expand the company's product platform.
2 November 2018•3 mins read
