WesternOne paid for the acquisition using its existing cash. The investment is expected to be immediately accretive to WesternOne Equity’s unitholders, with an initial projected increase of approximately $0.5 million in annual EBITDA.
Darren Latoski, CEO of WesternOne Equity, said: This acquisition allows us to further consolidate the equipment rentals market on Vancouver Island, in conjunction with our acquisition of Old Country Rentals in June 2007. The extended geographical reach provides us with a strong business platform to grow our business in a market where we see continued strength in the equipment rental and sales sector.
