HALIFAX, July 9, 2015 /CNW/ - Hawthorne Capital Inc. of Halifax, Nova Scotia announced that it acquired today 1,364,000 common shares of Crown Capital Partners Inc. representing approximately 14.4% of those outstanding. The shares were purchased at a price of $11.00 per share as part of Crown's initial public offering. Hawthorne now owns or controls approximately 14.4% of the outstanding Shares.
The purchases were made for investment purposes. Subject to the regulatory limitations, Hawthorne may acquire, dispose of or continue to hold the shares in the normal course of its investment activities.
The investment will add significantly to Hawthorne's asset base and Crown operates in a sector of the industry that is familiar to the company. Hawthorne views this investment as having potential to help the company grow its core business.
Hawthorne is a mid-market Merchant Bank based in Halifax, Nova Scotia specializing in acquiring and growing established small-medium sized enterprises in Atlantic Canada. Hawthorne currently owns Belmont Health & Wealth – a regional provider of group benefits and wealth management services, Veranova Properties Limited – a national provider of residential property management, and CitiGroup Properties Limited – a regional provider of commercial and multi-unit residential property management. The company also holds various commercial real estate assets.
Hawthorne is a wholly owned subsidiary of Thornridge Holdings Limited – a private holding company with interests in High Liner Foods, Envirosystems Inc., Annapolis Group and Glen Arbour.
SOURCE Hawthorne Capital Inc.