Tuckamore Capital Management sells certain assets for $11.25 million

TORONTO – Tuckamore Capital Management Inc. (TSX:TX) says one of its subsidiaries has reached an agreement to sell a group of direct and indirect holdings for a combined $11.25 million.

The firm said Wednesday that Laurio Management Corp. and a numbered company based in Ontario will buy the assets, which are related to Baird MacGregor Insurance Brokers LP and Hargraft Schofield LP.

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Tuckamore, which invests in private Canadian businesses, said it will sell its indirect interest in Baird MacGregor Insurance Brokers, which is 77.5 per cent, as well as its fully-owned indirect interest in Hargraft Schofield LP.

The transaction also includes its full interest in general partners related to those assets. The sale is expected to be completed on Thursday, pending certain customary terms and conditions.