SIM Digital Buys PS Production Services
Canadian Rental House Has Locations in Toronto, Vancouver, and Halifax
Toronto-based video equipment and post services provider SIM Digital said this week that it had acquired PS Production Services (PS), a Canadian rental house with more than 130 employees in offices in Toronto, Vancouver, and Halifax.
The deal was financed by Canadian investment firm Granite Partners, with whom SIM said it will be "working in partnership" moving forward. SIM Digital said it would begin integrating the two companies' operations immediately.
PS President and CEO Douglas Barrett, who is leaving the company, said the decision to sell shouldn't be surprising. "While everyone at PS is tremendously proud of what we have achieved together, the passing of company founder Doug Dales in 2010 made it inevitable the company would be sold," he said in a prepared statement.
"Doug was someone I very much admired and respected," added SIM Digital President Rob Sim. "Both of our companies came from humble beginnings and, through hard work and constant dedication, we were able to successfully grow them into what they are today."
SIM has spent the last few years in expansion mode. It bought Bling Digital in 2009, then purchased L.A. post facility Master Key Finishing last year.
“We are very pleased with our investment in SIM and in helping them to expand their business and their opportunity for growth by combining these businesses,” said Douglas Buchanan, managing director of Granite Partners, in a statement.