Sinclair Range Announces Acquisition
Sinclair Range, on behalf of its recently incorporated, wholly-owned subsidiary, Ekip Innovations Inc., is pleased to announce the acquisition of the business and assets of Kanwal Inc.
Located in Magog, Quebec, the purchased business (the “Business”) is a Tier 1 and Tier 2 supplier of rubber sealing systems, sold internationally to some of the world’s most exclusive automotive brands, and is also a manufacturer of heavy-duty splash guards used for highway tractor trailers and other heavy vehicles.
The Business currently employs approximately 60 people in Magog, Quebec, and is expecting to hire another 20 to 25 employees in the next several months.
The Business was sold to Ekip Innovations by PricewaterhouseCoopers Inc., the Receiver of Kanwal Inc., pursuant to a court approved Sales and Investment Solicitation Process.