GlassMasters Autoglass

The Western Investment Company of Canada Ltd. and ATB Capital have acquired GlassMasters Autoglass Ltd. and ARG Wholesale Ltd.

Industry:

Automotive

The Western Investment Company of Canada Ltd. and ATB Capital have acquired GlassMasters Autoglass Ltd. and ARG Wholesale Ltd. MNP Corporate Finance Inc. acted as exclusive financial advisor to GlassMasters Autoglass Ltd. and ARG Wholesale Ltd. in structuring and negotiating this transaction.

Transaction Brief

This transaction provides GlassMasters Autoglass Ltd. and  ARG Wholesale Ltd. ("GlassMasters") with additional capital,  contacts and other resources that will enable the company to expand its  business presence in Alberta and into new markets in Western Canada. The  current shareholders of GlassMasters, as well as certain key managers, have  agreed to participate in an equity position and will continue working with the  company to expand into new regions across Canada.

GlassMasters is one of the largest windshield repair  companies in the province of Alberta with 7 retail locations, 27 mobile  repair vehicles and 36 service units operating in Calgary, Red Deer and  Edmonton. ARG is a wholesale automotive glass distribution company.

Western Investment Company of Canada Ltd.  ("Western") is listed on the TSX under the symbol WIP. Western's  strategy is to create a diversified portfolio of established Western Canadian  businesses and create shareholder value through the identification and  long-term ownership of companies with sustainable cash flows and strong  potential for growth. This is Western's first acquisition.

ATB Capital, the recently formed private equity division of  ATB Financial, has also agreed to participate as an equity partner in the  transaction.