Monday, June 01, 2009

Nordco Inc. acquired by Toronto private equity firm

Written by 

OMERS Private Equity of Toronto, Ontario, has acquired Nordco, Inc. from The Riverside Co, Nordo announced Monday. Terms and amount of the sale were not disclosed, though a Riverside Co. spokesman allowed that the deal  was “extraordinary,” and “a wonderful return for our investors.” 

nordco_logo.jpg

Oak Creek, Wis.-based Nordco Inc. has about 330 employees in several subsidiaries, including: Dapco Industries , Ridgefield, Conn.; Nordco Rail Services of Lee’s Summit, Mo.; Shuttlewagon of Grandview, Mo., and J.E.R. Overhaul of Arcola, Ill. Nordco manufacturing facilities are located in Oak Creek and in Oshawa, Ontario.

The Riverside Co. purchased Nordco as part of a management-backed buyout in 2003. The firm moved Nordco into a larger facility, launched a rebuild and repair division, and added the other companies during its parental tenure.