PE syndicate agrees to acquire GuestLogix's onboard business
GuestLogix Inc (TSX: GXI) has agreed to sell its onboard retail technology business to a group of Canadian private equity investors for an undisclosed sum. Stornoway Portfolio Management, Bridgecorp Canada, Logan Peak Capital and Klass Capital Corp partnered in the deal, which resulted from a court-approved sale and investment solicitation process conducted under the Companies' Creditors Arrangement Act. Upon the deal's closing, Toronto-based GuestLogix will operate under its existing name and with an exclusive focus on its onboard business. Earlier this year, GuestLogix sold its affiliate OpenJaw Technologies Inc for about US$38.5 million.
6 July 2016•5 mins read
