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June 2013

Penfund Announces a Minority Equity Investment in Wakefield

TORONTO, Ontario (June 12, 2013) – Penfund, an independent provider of junior capital to middle market companies in North America, announced today the completion of a minority equity investment in Wakefield Canada Holdings ULC (“Wakefield”).

Headquartered in Toronto, Ontario, Wakefield is the exclusive Canadian distributor of Castrol-branded motor oils. These oils are predominantly manufactured in Wakefield’s facility in Toronto and are distributed across Canada through a comprehensive network of warehouses. The Castrol brand is the market leader in the Canadian passenger car market in both the conventional and synthetic segments. Wakefield also distributes Castrol heavy duty motor oils and diesel exhaust fluid in the commercial market. Diesel exhaust fluid is sold under the H2Blu brand which is owned by Wakefield.

According to John Bradlow, a Penfund partner, “Penfund’s first investment in Wakefield was made in 2005. We are delighted to invest again in the company which we believe possesses powerful, market-leading brands, longstanding customer relationships, a nation-wide logistics capability and a dynamic and entrepreneurial management team which has grown the business signficantly since it was acquired from a unit of BP PLC in 2005”.

Bob MacDonald, Wakefield’s Chairman, founder and controlling shareholder, said “We are excited about partnering with Penfund again. They were supportive of Wakefield from the very beginning and it is great to have them back on the team”.

 

About Wakefield

Wakefield Canada Inc. is a privately held Canadian company that markets, distributes and manufactures category-leading brands for the automotive and heavy-duty vehicle marketplace including Castrol, H2Blu and Super Clean.

With coast-to-coast distribution, warehousing, and a large dedicated field sales force, Wakefield provides exceptional service and solutions to customers nationally.

The company has received many honours and designations including ISO 9001 for overall Wakefield operations, and ISO 14001 for manufacturing operations, Canada’s 50 Best Managed Companies Award and Top 50 Best Small and Medium Employers (BSME) in Canada for the years 2009 to 2012 inclusive. Wakefield is recognized as one of the “Green 30” companies in Canada by BSME.

Website: www.wakefieldcanada.ca

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About Penfund

Penfund is a leading provider of junior capital to middle market companies throughout North America. The firm is owned by its management team and is currently investing its most recently established fund, Penfund Capital Fund VI.  Penfund manages funds sourced from pension funds, insurance companies, banks, family offices and high net worth individuals and has invested more than $3 billion in over 225 companies since its establishment in 1979. Assets and capital under management currently exceed $1.6 billion.

For further information, please contact:

John Bradlow

Partner & Chairman

416 645-3799jbradlow@penfund.com

Bob MacDonald

Chairman, Wakefield Canada

(416) 252-5511bmacdonald@wakefieldcanada.ca
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