OMERS Private Equity (OPE), the private equity arm of OMERS, has sold Nordco to New York-based private equity firm Greenbriar Equity Group for an undisclosed amount.

Nordco is the leading provider of highly engineered equipment, parts and services that ensure the safety, efficiency and function of rail transportation in North America and internationally.

Since OPE acquired Nordco in May 2009, Nordco’s revenue has grown more than 44%, and the company has continued to strengthen its market position through a number of strategic initiatives, including improving operational efficiencies and new product development.

“Our exceptional returns on our two most recent exits, Nordco and USIC, are further validation of the success of our direct investment program,” says OPE’s senior managing director, Michael Graham.

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Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

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