TORONTO -- (Business Wire)

Further to its May 15 news release, Acasta Enterprises Inc. (TSX:AEF and AEF.WT) (“Acasta” or the “Company”) today announced that Erik Levy will be joining the Company as a Managing Partner. He will be joining Anthony Melman and Michael Liebrock as a founding partner of Acasta's private equity business and also to support new strategic initiatives and corporate development for the existing Acasta businesses.

“We are delighted to welcome Erik to Acasta,” said Anthony Melman, CEO of Acasta. “He brings a wealth of successful private equity investing and value creation experience from over 11 years at CPPIB. His arrival will be of enormous value as we pursue several strategic and proprietary private equity investment initiatives across our businesses.”

Mr. Levy was previously Senior Principal and founding member of the Direct Private Equity business at Canada Pension Plan Investment Board (“CPPIB”), where he led several significant investments. He was also a member of CPPIB’s Investment Partnerships and Private Debt Investment Committees.

Mr. Levy holds an MBA from the Rotman School of Management at the University of Toronto, and a B.Sc. in Actuarial Mathematics from Concordia University. He was a director of Skype Technologies, Acelity (f.k.a Kinetic Concepts), Suddenlink Communications, Informatica Corporation and Altice USA. Prior to joining CPPIB in November 2005, Erik held various positions at Bain & Company in Toronto and Paris and prior to that, he worked with Mercer consulting.

Acasta’s private equity business is being built around a growing team of professionals with considerable private equity, transactional M&A and financing expertise. In addition to the team’s on-going investment sourcing efforts, Acasta’s Founders and board members also provide a wealth of business experience and connections which contribute to a continuing stream of proprietary investment opportunities.

About Acasta Enterprises Inc.

Acasta Enterprises Inc. is a leading Canadian public company that acquires businesses with exceptional potential for value creation through strategic and transformational initiatives. As a proactive private equity manager, Acasta partners with the senior management teams of its acquired businesses, empowering them to pursue value creating trajectories.

Cautionary Note Regarding Forward-Looking Statements

This news release may contain forward‐looking statements (within the meaning of applicable securities laws) which reflect Acasta’s current expectations regarding future events. Forward-looking statements are identified by words such as “believe,” “anticipate,” “project,” “expect,” “intend,” “plan,” “will,” “may,” “estimate” and other similar expressions. The forward-looking statements in this news release are based on certain assumptions, including without limitation, that Acasta’s future objectives and strategies to achieve those objectives will not change, as well as other statements with respect to management’s beliefs, plans, estimates and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. The forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed under the heading “Risk Factors” in Acasta’s annual information form for the fiscal year ended December 31, 2016, a copy of which is available on the SEDAR website at www.sedar.com under Acasta’s profile. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, Acasta assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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Contacts:

Acasta Enterprises Inc.
Ian Kidson, 647-725-6707
Chief Financial Officer and Chief Operating Officer

Source: Acasta Enterprises Inc.