EDMONTON, Alberta (Nov. 19, 2010)—The Penrose Group, a business consulting firm based in Edmonton and Toronto, has announced it has facilitated the sale of Canadian rubber recycler Rubber Tech International Inc. to an undisclosed buyer for an eight-figure sum.
The deal includes a long-term agreement for Rubber Tech to supply crumb rubber to Champagne Edition Inc., a manufacturer of recycled rubber sidewalks, flooring, mats and other goods.
According to the Champagne Edition website, the company has a 70,000-sq.-ft. manufacturing plant 30 minutes north of Edmonton and a sales and marketing office in Rockwood, Ontario. The company claims to use 11 million pounds of recycled rubber monthly, equivalent to 500,000 passenger tires. Last month the City of Calgary, Alberta, installed rubber sidewalks made by Champagne Edition in three neighborhoods in Calgary.
The Penrose Group will continue to be the lead business development consultant for Champagne Edition, according to a Penrose press release. Lindsey Penrose, Penrose Group president and CEO, could not be reached for comment.