August 15, 2005 13:26 ET

Roynat Capital purchases 15% of the common shares of Fastfrate

Attention: Transportation Editor WOODBRIDGE, ONTARIO--(CCNMatthews - Aug. 15, 2005) - Consolidated Fastfrate Inc announced today that Roynat Capital has purchased 15 percent of the common shares of Consolidated Fastfrate for an undisclosed amount.

With this purchase Roynat Capital becomes the second largest shareholder in Consolidated Fastfrate after Ron Tepper, President and CEO, who, after this transaction, retains 79 percent of the company. The senior management group owns the remaining 6 percent of the company.

"The reason we have brought Roynat Capital in as a shareholder is to provide us with easier access to funding for strategic acquisitions that will allow Consolidated Fastfrate to continue its growth through organic means," says Mr. Tepper. "This way we will enhance our menu of services which is currently second to none in the industry."

Roynat Capital is Canada's leading mid-market Merchant Bank and a member of the Scotiabank Group of Companies. From providing traditional and non-traditional financing in the form of term loans, subordinated debt or equity to providing strategic advisory services, Roynat Capital through its network of 21 offices across Canada and the U.S., helps clients grow their business, finance and execute mergers, acquisitions and divestitures, restructure debt and equity capital, or arrange strategic partnerships.

Toronto-based Consolidated Fastfrate Inc is one of Canada's largest privately owned freight forwarders and a recipient of Canada's 50 Best Managed Companies Award for the fourth consecutive year. The company annually transports in excess of 2 billion of freight and employs more than 1,500 people in 16 offices across North America.

For more information, please contact Ron Tepper, President and CEO or Leonard Wyss, Vice President, Finance & CFO at (905) 893-2600

Contact Information

  • Ron Tepper
    Primary Phone: 905-893-2600 ext. 257