IOP is partnering with the Cholette Family to re-capitalize the business to help the transition from the 3rd generation and to support future growth. Andre Cholette, President & CEO, and the rest of the Alexandria Sr. management team, all of whom will have ownership interests, will remain in their current management roles to continue to grow the business. Dave Mackin, an IOP Operating Principal, will assume the position of Chairman.
As Mr. Cholette explains, “Osprey were true professionals from start to finish. They took us through a systematic process, backed with a wealth of experience, to help find the best possible partner. This process was about making the company stronger and poised for growth; Osprey helped us achieve exactly that.”
“The shareholders and management team have built a great business, one that will continue to grow and be successful with IOP as a new partner. We are happy to have helped them along the way.” said Stephen Jakob, Co-Founder and Partner of Osprey Capital.
Osprey Capital represented the shareholders of Alexandria. Wells Fargo and Scotiabank provided financing, and McDermott, Will & Emery provided legal representation to IOP.