Canadian family investment group launches fund to make acquisitions

Tarmac: The two families money comes from road construction     Picture: Pixabay

Tarmac: The two families money comes from road construction     Picture: Pixabay

White Owl Family Office has set up a fund to make acquisitions of mid-market companies and has recently acquired wood components manufacturer Olon Industries as part of that strategy. The family office, which is linked to White Owl Family Investment Holdings, the investment group of The Miller and McAsphalt Industries, was set up to manage the money of the McArthur and Carrick families. The two families control The Miller Group, a diversified transport construction company based in Ontario.

Ross Jones, the president and chief investment officer of White Owl Office, said on his Linkedin profile that the family office was founded: “to acquire mid-market companies within an entrepreneur-style private equity fund. The fund has no rules, no specific exit timing, no defined returns on capital and we structure our investments to fit the investment.”

He added: “The Miller McAsphalt Group is not new to acquiring companies as they have bought over 80 companies in the last 40 years. They invest long term and are very hands-on entrepreneurs.”

Last year, While Owl acquired the Great Lakes Food Company, a Canadian fishing group.