AMJ Campbell Van Lines

AMJ Campbell Van Lines

August 04, 2005 08:00 ET

AMJ'S MANAGEMENT MOVES INTO MAJORITY

Canada's #1 Moving Company Re-Finances in a Venture with Roynat Capital & Bitove Family Attention: Assignment Editor, Business/Financial Editor, News Editor, Transportation Editor MISSISSAUGA, ONTARIO--(CCNMatthews - Aug. 4, 2005) - The Management Ownership Group of Canada's #1 moving company, AMJ Campbell Van Lines, now holds a majority share of the company. They have just partnered with Roynat Capital and the Bitove Family to purchase all of the outstanding shares previously owned by Gibralt Capital Corporation.

A 2003 management buyout took AMJ Campbell from public to private and gave the Management Ownership Group a 40% piece of the pie and venture capitalist Gibralt the remaining 60%. In just over two years - with substantial growth and profit - AMJ Campbell has aggressively moved into their current position enabling them to up their management stake in the company to 55%, partner with Roynat (15%) and Bitove (30%) and to take Gibralt out of the picture.

A 71-year-old Canadian company with 70 distinct units across North America, AMJ Campbell has grown into Canada's #1 moving company with over 2,400 staff and 1,200 vehicles. As the largest agent for Atlas Van Lines, AMJ Campbell signed a new 15-year contract in January with Atlas - a partnership that provides AMJ access to 545 Atlas agents in North America. This venture supports AMJ's mainstay business - residential moves for over 75,000 Canadian families each year.

Over the last three years AMJ Campbell has taken entrepreneurial initiatives and launched spin-off businesses all focused around the core business - the move. With the addition of AMJ U-Move, AMJ Shredding, AMJ Self Storage and AMJ Special Products, AMJ Campbell has increased their revenue to over $140 million.

Now that they hold a 55% controlling share in the company, the Management Ownership Group of AMJ Campbell plans to further expand their spin-off ventures. This re-financing venture will allow for greater financial commitments geared towards growing the business.

AMJ Campbell began their dealings with Roynat Capital last summer when they first began to plan their move away from venture capital investment. John Bitove, a great supporter of Canadian business and leading entrepreneur with ownership in 760 KFC, Pizza Hut and Taco Bell restaurants across Canada, got on board as soon as he saw a chance to gain a share in Canada's #1 moving company.
IN: ECONOMY, FINANCE, TRANSPORT

Contact Information

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