WesternOne Equity Income Fund (TSX: WEQ.UN) says it has agreed to buy Britco Structures LLP and Britco Leasing Ltd. for about $93 million. Britco is a Canadian designer and manufacturer of commercial portable and permanent modular buildings.
VANCOUVER
WesternOne Equity Income Fund (TSX: WEQ.UN) says it has agreed to buy modular building maker Britco Structures LLP and Britco Leasing Ltd. for about $93 million.
WesternOne, an income fund that specializes in acquiring construction and infrastructure services, said the purchase by an indirect subsidiary will include Britco’s Structures and Leasing Ltd. divisions.
The deal includes an earn-out provision that will allow former Britco owners to receive some of the earnings during a 12-month period after closing.
Britco is one of the largest Canadian designers and manufacturers of commercial portable and permanent modular buildings and operates a rental fleet of about 1,200 modular buildings in Western Canada.
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