SeaFort Capital Announces Investment in GHY International
HALIFAX, NS, Jan. 15, 2025 /CNW/ - SeaFort Capital announced that it has made a majority investment in GHY International (Geo. H. Young & Co. Ltd. and GHY USA Inc.). Headquartered in Winnipeg, Manitoba, GHY International is a leading North American trade compliance and brokerage services provider that offers best-in-class support and guidance to North American companies that trade internationally. Richard Riess will retain a significant equity investment in the business and certain GHY executives have also become shareholders. Winnipeg-based Jessiman Family Investments Inc. invested alongside SeaFort as a co-investor in the transaction. The existing senior executive team will continue to lead the business following the investment by SeaFort.
Richard Riess, Co-CEO of GHY International commented, "I have been impressed by SeaFort's professionalism and the respect demonstrated for GHY's legacy and values. I am very pleased to have completed a transaction that will facilitate my succession objectives, as we enter our 124th year of business, while also allowing me to continue supporting the existing leadership team during the next chapter of GHY's history".
Chris Bachinski, Co-CEO of GHY International, added, "We are excited to partner with the SeaFort team. With their support we will continue the growth and development of GHY. We remain committed to providing excellent career opportunities for our associates and leading-edge service and support to our clients. Our team is excited about continuing and building the GHY legacy further".
Rob Normandeau, SeaFort's Managing Partner & President, commented, "This is the third platform investment for SeaFort Capital Fund II. The transaction exemplifies SeaFort's strategy of partnering with best-in-class management teams to invest in high-performing businesses across Canada. Rick and Chris have built an outstanding business that is well positioned to thrive in the evolving environment the industry is expected to encounter in the coming years".
"GHY is the gold standard in their industry and precisely the kind of company we look to partner with at JFII. The GHY team is unrelenting in their focus on servicing clients with the very best trade and compliance related solutions in this complex and ever-evolving marketplace. We're excited about the future and see many attractive growth opportunities ahead" said Peter Jessiman, CEO of Jessiman Family Investments.
GHY intends to grow by pursuing organic growth and completing acquisitions. All shareholders are committed to maintaining GHY's reputation for delivering market-leading service. The company will continue to invest in technology to facilitate accurate and efficient trade compliance.
Stewart McKelvey acted as legal advisor to SeaFort Capital and due diligence support was provided by Deloitte and KPMG. Bank of Montreal provided senior credit facilities to GHY International as part of the transaction.
About SeaFort Capital
Based in Halifax, Nova Scotia, SeaFort Capital is a private equity firm that invests in lower-mid-market Canadian businesses with EBITDA ranging from $2 million to $15 million. SeaFort is a growth-oriented investor that seeks to establish long-term partnerships to help grow industry-leading Canadian companies. SeaFort targets investments in the business services, value-added distribution, specialty manufacturing, and health services sectors. SeaFort Capital is investing SeaFort Capital Fund II LP, which currently has committed capital of approximately $189 million. For more information, please visit www.seafortcapital.com.
About GHY International
Founded by the entrepreneur George Henry Young, GHY International began its operations in 1901 in Manitoba, Winnipeg, Canada. We provide Customs Brokerage and Compliance Consulting for North American Importers. For more information, please visit www.ghy.com.
About Jessiman Family Investments
Jessiman Family Investments Inc. is a Winnipeg-based Family Office, formed after the Jessiman family sold the Bison Transport Group of Companies to James Richardson & Sons Ltd. in late 2020. JFII has substantial holdings in public equities, real estate, and a portfolio of private investments. Members of the JFII executive also help oversee The Jessiman Foundation, the family's philanthropic arm.
SOURCE SeaFort Capital Inc.
Media Contacts: SeaFort Capital, Rob Normandeau, Managing Partner and President, Email: [email protected]; GHY International, Chris Bachinski; Co-CEO & President, Email: [email protected]; Jessiman Family Investments, Brendon Corbett, Chief Investment Officer, Email: [email protected]
Share this article