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Penfund Announces a Minority Equity Investment in Wakefield

Penfund Announces a Minority Equity Investment in Wakefield 
TORONTO, ONTARIO -- (Marketwired) -- 06/12/13 -- Penfund, an
independent provider of junior capital to middle market companies in
North America, announced today the completion of a minority equity
investment in Wakefield Canada Holdings ULC ("Wakefield").  
Headquartered in Toronto, Ontario, Wakefield is the exclusive
Canadian distributor of Castrol-branded motor oils. These oils are
predominantly manufactured in Wakefield's facility in Toronto and are
distributed across Canada through a comprehensive network of
warehouses. The Castrol brand is the market leader in the Canadian
passenger car market in both the conventional and synthetic segments.
Wakefield also distributes Castrol heavy duty motor oils and diesel
exhaust fluid in the commercial market. Diesel exhaust fluid is sold
under the H2Blu brand which is owned by Wakefield.  
According to John Bradlow, a Penfund partner, "Penfund's first
investment in Wakefield was made in 2005. We are delighted to invest
again in the company which we believe possesses powerful,
market-leading brands, longstanding customer relationships, a
nation-wide logistics capability and a dynamic and entrepreneurial
management team which has grown the business significantly since it
was acquired from a unit of BP PLC in 2005".  
Bob MacDonald, Wakefield's Chairman, founder and controlling
shareholder, said "We are excited about partnering with Penfund
again. They were supportive of Wakefield from the very beginning and
it is great to have them back on the team". 
About Wakefield  
Wakefield Canada Inc. is a privately held Canadian company that
markets, distributes and manufactures category-leading brands for the
automotive and heavy-duty vehicle marketplace including Castrol,
H2Blu and Super Clean. 
With coast-to-coast distribution, warehousing, and a large dedicated
field sales force, Wakefield provides exceptional service and
solutions to customers nationally. 
The company has received many honours and designations including ISO
9001 for overall Wakefield operations, and ISO 14001 for
manufacturing operations, Canada's 50 Best Managed Companies Award
and Top 50 Best Small and Medium Employers (BSME) in Canada for the
years 2009 to 2012 inclusive. Wakefield is recognized as one of the
"Green 30" companies in Canada by BSME. 
Website: www.wakefieldcanada.ca  
About Penfund 
Penfund is a leading Canadian private equity firm specializing in
providing junior capital to middle market companies throughout North
America. Penfund provides high yield debt, mezzanine debt and equity,
as well as bridge facilities, standby lines, underwritten facilities
and financial guarantees. The firm is owned by its management team
and is currently investing its most recently established fund,
Penfund Capital Fund IV which has $460 million of committed capital.
Penfund manages institutional funds sourced from Canadian pension
funds, insurance companies, family offices and banks and has invested
more than $2.5 billion in over 220 companies since its establishment
in 1979.  
Website: www.penfund.com
Contacts:
Penfund
John Bradlow
Partner
(416) 645-3799
jbradlow@penfund.com 
Wakefield Canada
Bob MacDonald
Chairman
(416) 252-5511 x4460
bmacdonald@wakefieldcanada.ca
 
 
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