Sisu Investment Corporation in Oakville, Ont. has added to its position in Calgary firm Wilmington Capital Management. The Dec. 24 transaction was announced Monday.
Sisu bought 2.5 million Class A non-voting shares and 115,000 Class B voting shares of Wilmington from 2361380 Ontario Limited, a private investment holding company run by Ian Cockwell, a long-time Wilmington shareholder who stepped down from the firm’s board of directors in August.
The purchase increases Sisu’s position in the firm to 35.4% of outstanding Class A and 29.3% of Class B shares. Sisu bought the shares privately for roughly $6.5 million, or $2.50 per.
This follows Sisu’s $5.2 million acquisition of Wilmington shares — with unnamed partners — from Rosebridge Capital Corp. in October.
Sisu said in its release that the move is “for investment purposes.” Its holdings make it a more influential minority shareholder.
2361380 Ontario Limited now owns 8.8% of Class A and about 9% of Class B shares.