Westbridge Capital Completes the Acquisition of Berg Industrial Service Inc.
Westbridge Capital Ltd. (“Westbridge”) is pleased to announce the acquisition of Berg Industrial Service, Inc. (“Berg”). Berg is a 50-year-old, 2nd generation family business, headquartered in Ontario that is engaged in the installation and servicing of industrial chilling systems.
Berg is one part of a two-part business led by 2nd generation entrepreneur, Don Berggren. The associated engineering and fabrication business builds solutions for a broad range of industrial chilling applications that include garbage bag manufacturing, ice production for fishing fleets, chilling of natural gas in energy production and chilling for high intensity specialized computing applications, amongst others. Berg installs and services these solutions once they have been manufactured along with a broad assortment of other industrial and commercial cooling solutions, creating a steady annuity business.
Berg is also the first acquisition made by Westbridge that incorporates a 10% equity interest for the associated Fund, Westbridge Capital Partners Investment Trust, which participated in the financing.
Mark Edwards, the General Manager of Berg before the acquisition will continue as the CEO of the acquired business. In addition, we are also pleased to announce that we have hired Rebecca Carothers, recently with Mckinsey and Co and a PEngg (Electrical) from Queens College to join the business as the Chief Operating Officer. Michael Turner, former President of Oxford Properties will join the board of the company.
About Westbridge Capital Ltd.
Westbridge is a private equity management company. Westbridge focuses on real estate and private equity investments that by their nature have little correlation to publicly listed securities and may be used to diversify a portfolio and reduce overall portfolio risk and volatility.
About Westbridge Capital Partners Income Trust
Westbridge Capital Partners Income Trust is a Canadian domiciled Mutual Fund Trust managed by Westbridge Capital Ltd. The Fund makes high yield loans to mature operating companies and distributes the associated income stream to investors through monthly distributions.
