Acquisition fuses strengths of two BC companies
Tidal Enterprises Ltd, a supplier of aquaculture mooring system components has acquired Northwest Wire Rope Ltd, a supplier of industrial wire ropes.
Executives from the two British Columbia-based companies hailed the move as good news for their aquaculture customer base because it expands their products and services for the industry. Their product range now includes products for lifting, rigging and load securement devices made of chain, rope, and synthetic products.
“This is a very exciting event for both companies, for our employees and our clients. Our greatest assets have always been our people, and by joining forces we have just made a huge increase in the quality of that asset. We are bringing together enhanced experience and expertise in the field of safe overhead lifting, heavy equipment lifting, rigging and mooring/anchoring. Our merger will create a more comprehensive infrastructure with faster response times from our new Nanaimo location,” said Lee Poirier, who co-founded Tidal Enterprises with Allen Reid.
Both companies have worked together frequently over the past five years. The executives said the two companies will continue to operate as two entities.