OMERS Private Equity, the private equity arm of the OMERS Worldwide group of companies, and a consortium equity group, including the Caisse de dépôt et placement du Québec, have sold Cari-All Group Inc. (together with its affiliates, “Cari-All” or the “Company”) to German based cart manufacturer Wanzl Metallwarenfabrik GmbH (“Wanzl”). Founded in 1969, Cari-All is the leading manufacturer and distributor of shopping carts, shelving and backroom equipment to retailers across North America.
Since OMERS Private Equity acquired Cari-All in 2005, the Company has strengthened its position in the North American cart market through a number of strategic initiatives, including bolstering the management team, improving operational efficiencies and growing through acquisition. In the first quarter of 2011, the Company acquired Tote Cart, which expanded its customer base and further enhanced its leadership position in the market.
Jim Orlando, Managing Director at OMERS Private Equity, commented “Cari-All has been an excellent investment and we are pleased to have completed the sale of Cari-All to Wanzl. We believe Wanzl will be a good partner to lead Cari-All’s business and employees moving forward.”
Alain Michel, Chairman of Cari-All, said “Pierre Arsenault and his management team have done an exceptional job navigating through a difficult retail environment in North America over the past several years, and the Company has emerged from the recession in a much stronger position.”
Pierre Arsenault, CEO of Cari-All, said “I’m proud of the work my team did over the past several years.” He added, “Wanzl, having been a strategic partner to the Company for many years, is a logical home for Cari-All. As a major player in the global cart market, Wanzl will bring technical expertise and market reach that will benefit Cari-All.”
Harris Williams & Co. served as financial advisor and McCarthy Tetrault LLP acted as legal counsel to Cari-All.