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.”
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.