{"id":469938,"date":"2021-04-01T12:03:51","date_gmt":"2021-04-01T16:03:51","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=469938"},"modified":"2021-04-01T12:03:51","modified_gmt":"2021-04-01T16:03:51","slug":"instaragf-acquires-prt-growing-services-from-triwest","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/instaragf-acquires-prt-growing-services-from-triwest\/","title":{"rendered":"InstarAGF Acquires PRT Growing Services From TriWest"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">TORONTO, April  01, 2021  (GLOBE NEWSWIRE) &#8212; InstarAGF Asset Management Inc. (\u201cInstarAGF\u201d) today announced it has acquired PRT Growing Services Ltd. (\u201cPRT\u201d or the \u201cCompany\u201d), a leading reforestation logistics provider with operations across North America, from TriWest Capital Partners (\u201cTriWest\u201d). The Company\u2019s management team will continue to lead the business, which is headquartered in Victoria, British Columbia.<\/p>\n<p>PRT is the largest commercial-scale containerized growing provider in North America for a wide range of forestry seedling species. The Company blends the cultivation of seedlings with cold storage facilities, logistics services and technology to meet critical silviculture and reforestation needs, and also bioremediates wastewater, biosolids and soil contaminants through the use of willow trees. PRT is an essential link in the forest sustainability supply chain, facilitating the rehabilitation of the natural environment and helping to mitigate the impact of climate change.<\/p>\n<p>\u201cAs a long-term investor and owner of essential infrastructure businesses, InstarAGF\u2019s purpose as an organization is to enrich people\u2019s lives,\u201d said Gregory Smith, President and Chief Executive Officer, InstarAGF. \u201cPRT is a premier agricultural infrastructure platform with an established operating history, diverse customer relationships and an attractive growth profile. We are delighted to partner with PRT\u2019s management team in contributing to sustainable reforestation initiatives and requirements in North America to enhance the resilience of our environment and health of our communities.\u201d<\/p>\n<p>Rob Miller, Chief Executive Officer of PRT, commented, \u201cWe are excited to partner with InstarAGF as we pursue organic growth opportunities and acquisitions across North America to further strengthen our market-leading position in containerized forest seedlings and sustainability solutions to better serve current and new customers. We are proud to welcome InstarAGF to the PRT family as we seek to better serve customers, and extend our competitive advantage and positive environmental and community footprint.\u00a0\u00a0 We also wish to thank TriWest, as our partnership with TriWest has played an important role in the growth and success of PRT over the past 2.5 years.\u201d<\/p>\n<p>\u201cPRT is an exceptional business with a bright future,\u201d said Ryan Giles, Senior Managing Director, TriWest. \u201cOur collaboration with PRT over the past few years has been productive and created considerable value for our stakeholders. We are delighted to share in PRT\u2019s vision and proud history and thank the PRT team for their innovative and customer-focused approach to growing the business.\u201d<\/p>\n<p>Over its 30-year history, PRT has grown approximately 4.5 billion seedlings for a diversified customer base that includes governments, blue-chip forest product companies, timberland managers and landowners who outsource seedling growing to help fulfil their obligations to reforest harvested areas. PRT operates 19 growing and 17 cold storage facilities across 21 sites in both Canada and the U.S.<\/p>\n<p>Financial terms of the transaction were not disclosed. InstarAGF\u2019s financial adviser was RBC Capital Markets with legal advice provided by McCarthy T\u00e9trault LLP. TriWest\u2019s financial adviser was Lincoln International with legal advice provided by Stikeman Elliott LLP.<\/p>\n<p>\n        <strong>About InstarAGF Asset Management<\/strong><br \/>\n        <br \/>InstarAGF is an independent alternative asset management firm focused on North American middle-market opportunities in the infrastructure sector and other alternative real asset categories. InstarAGF\u2019s growing footprint spans North America with a diversified portfolio of companies that deliver essential infrastructure services and value to communities, partners and investors, helping us to fulfil our purpose of enriching people\u2019s lives. InstarAGF is a signatory to the United Nations-supported Principles for Responsible Investment. For more information: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=dLGHAKlJ86hLg2_R2WXOxEjAuFfBhM_0r9aJP8xcdPmErZM0HKnknkP0TpJ06up2a9aEMA0BV2CO_TN0sPS38A==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.instaragf.com<\/a><\/p>\n<p>\n        <strong>About PRT Growing Services<\/strong><br \/>\n        <br \/>The PRT Group, through affiliates PRT Growing Services Ltd and PRT USA Inc., is a forest seedling propagator and the largest producer of container-grown forest seedlings in North America, currently growing more than 300 million seedlings annually and operating a network of forest seedling nurseries in the U.S. and Canada. For more information: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=i9qSFRBjVYNvN7tznehAbo9WW0JNP_Is-04nUYePte94VJ_SgTuRnc8m429Iwsv1DYE0f2tKza3jdLK-mtr2pQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.prt.com<\/a><\/p>\n<p>\n        <strong>About TriWest Capital Partners<\/strong><br \/>\n        <br \/>Founded in 1998 and based in Calgary, Alberta, TriWest is one of Canada\u2019s leading private equity firms, having raised over C$1.4 billion in committed capital through six funds. TriWest has successfully invested in 43 companies across a broad cross-section of the economy in partnership with their management teams. We work closely with our management partners, together proactively putting in place a strategy that maximizes growth potential and value creation by emphasizing operational excellence, prudent governance and an efficient capital structure. The principals of TriWest have significant operational and financial expertise, making us effective partners in creating shareholder value. For more information: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=nzdvwEsBPi-gZ4ObImQgsYH7ZRRYiw6DlkqXVke2rF5SUVIobzXmwyVd5VyiTgSYOO1rO-Pjjh0dhyMKQ0Y4BA==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.triwest.ca<\/a><\/p>\n<p align=\"justify\">\n        <strong>Disclaimer:<\/strong>\n      <\/p>\n<p align=\"justify\">This release contains \u201cforward-looking information\u201d within the meaning of Canadian provincial securities laws and \u201cforward-looking statements\u201d within the meaning of the United States\u2019 federal securities laws. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, include statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, and includes words such as \u201cbelieves\u201d, \u201cseeks\u201d, or negative versions thereof and other similar expressions, or future conditional verbs, such as \u201cmay\u201d, \u201cwill\u201d, \u201cshould\u201d,\u00a0 \u201cwould\u201d and \u201ccould.\u201d<\/p>\n<p align=\"justify\">Although InstarAGF Asset Management believes that future anticipated results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions, the reader should not place undue reliance on forward-looking statements or information as statements or information involve known and unknown risks, uncertainties and other factors \u00a0which may cause the actual results, performance or achievements to differ materially from anticipated future results, performance or achievements express or implied by such forward looking statements and information.<\/p>\n<p align=\"justify\">Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include: economic and financial conditions; the behavior of financial markets (including fluctuations in exchange and interest rates); availability of equity and debt financing; strategic actions including dispositions; the ability to complete and effectively integrate acquisitions and the ability to obtain expected benefits; regulatory and political factors; acts of God; and the possible impact of international conflicts, including terrorism, among other risks and factors.<\/p>\n<p>This document is for informational purposes only and does not constitute a general solicitation, offer or invitation in any InstarAGF-managed funds in the United States or in any other jurisdiction and has not been prepared in connection with any such offer. In addition, the information contained in this document may not be relied on in any manner as legal, tax or investment advice.\u00a0The views expressed herein do not constitute investment or any other advice and are subject to change.<\/p>\n<p>This document has not been approved by the United States Securities and Exchange Commission or by any regulatory or supervisory authority of any state or other jurisdiction, nor has any such authority or commission passed on the adequacy of this document. Any representation to the contrary is unlawful. <\/p>\n<table style=\"border-collapse: collapse;width:608px;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: top\">\n            <strong>For more information:<\/strong><\/p>\n<p>            <strong>InstarAGF<br \/><\/strong>Sarah Borg-Olivier<br \/>Chief Operating Officer<br \/>Tel: (416) 568-1329<br \/>Email: Sarah.Borg-Olivier@InstarAGF.com<strong><br \/><\/strong><\/td>\n<td style=\"vertical-align: top\">\n<p>            <strong>TriWest<br \/><\/strong>Dino DeLuca<br \/>Chief Operating Officer<br \/>Tel: (403) 817-9665<br \/>Email: ddeluca@triwest.ca<strong><br \/><\/strong><\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong>PRT<\/strong><br \/>\n        <br \/>Rob Miller<br \/>President and Chief Executive Officer<br \/>Tel: (250)-381-1404<br \/>Email: rob.miller@prt.com<\/p>\n<p>A photo accompanying this announcement is available at\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=-4v5MmujCAvq0TzXios7J9fhIdMK-zR2Dx4Z3-V7jM_dTC_7HHZwiWMjMRYWYGHCT_rPyp9D6R77zBEg7DO_XwsSR7B_LFxEGe36egn88i1YAoze0-Cg3D_VxDJPlTspWoHr-l1X7eBkR3f110sLBvkIq71-RIkkoPudJdDPVbozMLNFSjE8XN0k6oQ9n4SVhaN2EGeteXPL_1RWdY1IuBJJ7q6QEJHyn14GmxBflCOz9R4espB4GyQp6kT-2XyQDhY9_QOrBhk0vM0da-7pNQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/6baa76a7-8f79-4022-a75f-ba7cab48699b<\/a><\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMDM4MSM0MTAxNzk1IzIwOTIyNTg=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/253cb865-05ab-4dd1-a819-6e3a6e9c5b8c\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>TORONTO, April 01, 2021 (GLOBE NEWSWIRE) &#8212; InstarAGF Asset Management Inc. (\u201cInstarAGF\u201d) today announced it has acquired PRT Growing Services Ltd. (\u201cPRT\u201d or the \u201cCompany\u201d), a leading reforestation logistics provider with operations across North America, from TriWest Capital Partners (\u201cTriWest\u201d). The Company\u2019s management team will continue to lead the business, which is headquartered in Victoria, British Columbia. PRT is the largest commercial-scale containerized growing provider in North America for a wide range of forestry seedling species. The Company blends the cultivation of seedlings with cold storage facilities, logistics services and technology to meet critical silviculture and reforestation needs, and also bioremediates wastewater, biosolids and soil contaminants through the use of willow trees. PRT is an essential link in the forest &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/instaragf-acquires-prt-growing-services-from-triwest\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;InstarAGF Acquires PRT Growing Services From TriWest&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-469938","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>InstarAGF Acquires PRT Growing Services From TriWest - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/instaragf-acquires-prt-growing-services-from-triwest\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"InstarAGF Acquires PRT Growing Services From TriWest - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"TORONTO, April 01, 2021 (GLOBE NEWSWIRE) &#8212; InstarAGF Asset Management Inc. (\u201cInstarAGF\u201d) today announced it has acquired PRT Growing Services Ltd. (\u201cPRT\u201d or the \u201cCompany\u201d), a leading reforestation logistics provider with operations across North America, from TriWest Capital Partners (\u201cTriWest\u201d). The Company\u2019s management team will continue to lead the business, which is headquartered in Victoria, British Columbia. PRT is the largest commercial-scale containerized growing provider in North America for a wide range of forestry seedling species. The Company blends the cultivation of seedlings with cold storage facilities, logistics services and technology to meet critical silviculture and reforestation needs, and also bioremediates wastewater, biosolids and soil contaminants through the use of willow trees. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/instaragf-acquires-prt-growing-services-from-triwest\/","og_locale":"en_US","og_type":"article","og_title":"InstarAGF Acquires PRT Growing Services From TriWest - Market Newsdesk","og_description":"TORONTO, April 01, 2021 (GLOBE NEWSWIRE) &#8212; InstarAGF Asset Management Inc. (\u201cInstarAGF\u201d) today announced it has acquired PRT Growing Services Ltd. (\u201cPRT\u201d or the \u201cCompany\u201d), a leading reforestation logistics provider with operations across North America, from TriWest Capital Partners (\u201cTriWest\u201d). The Company\u2019s management team will continue to lead the business, which is headquartered in Victoria, British Columbia. PRT is the largest commercial-scale containerized growing provider in North America for a wide range of forestry seedling species. The Company blends the cultivation of seedlings with cold storage facilities, logistics services and technology to meet critical silviculture and reforestation needs, and also bioremediates wastewater, biosolids and soil contaminants through the use of willow trees. PRT is an essential link in the forest &hellip; Continue reading \"InstarAGF Acquires PRT Growing Services From TriWest\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/instaragf-acquires-prt-growing-services-from-triwest\/","og_site_name":"Market Newsdesk","article_published_time":"2021-04-01T16:03:51+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMDM4MSM0MTAxNzk1IzIwOTIyNTg=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/instaragf-acquires-prt-growing-services-from-triwest\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/instaragf-acquires-prt-growing-services-from-triwest\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"InstarAGF Acquires PRT Growing Services From TriWest","datePublished":"2021-04-01T16:03:51+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/instaragf-acquires-prt-growing-services-from-triwest\/"},"wordCount":1176,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/instaragf-acquires-prt-growing-services-from-triwest\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMDM4MSM0MTAxNzk1IzIwOTIyNTg=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/instaragf-acquires-prt-growing-services-from-triwest\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/instaragf-acquires-prt-growing-services-from-triwest\/","name":"InstarAGF Acquires PRT Growing Services From TriWest - 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