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JGB Enterprises Acquires Industrial, Petroleum and Mining Supplies in Canada
Thursday 22 July 2021

US-based supply chain management and logistics services distributor JGB Enterprises, Inc, backed by HCI Equity Partners, announced it recently acquired Canada-based hydraulic, industrial and propane hose, fittings and accessories distributor Industrial, Petroleum and Mining Supplies Ltd. d/b/a HosePower Canada.

JGB is a distributor of industrial hose, fluid power products, and hose assembly solutions throughout a diverse set of end markets including the US Department of Defense, oil and gas, food and beverage, retail, construction, and industrial OE.

The acquisition of IPM provides JGB entry into the attractive Canadian market and access to a complementary product portfolio and service capabilities.

Headquartered outside of Toronto, IPM is a distributor of hydraulic, industrial and propane hose, fittings and accessories.

The company has six locations across Canada and serves more than 3,000 customers across a variety of end markets including forestry, mining, construction, agricultural, and diversified industrials.

Greenberg Traurig, LLP and McMillan LLP served as legal counsel to JGB. CIBC Mid-Market Investment Banking acted as the exclusive financial advisor to IPM.

Folger, Rubinoff LLP served as legal counsel to IPM and Baker Tilly LLP advised on accounting and tax matters.

The deal closed on June 10, 2021. Terms of the transaction were not disclosed.
Details
Date Published: 22/07/2021

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