Enercare raises $240 mln to buy PE-backed Service Experts
Enercare Inc (TSX: ECI) has closed a public offering of subscription receipts to help fund its buy of Service Experts, a U.S. heating, ventilating, and air conditioning (HVAC) services and repairs provider. Enercare raised gross proceeds of about $239.8 million for the previously-announced deal, which will see the Toronto-based company acquire Service Experts for US$340.75 million. Based in Dallas, Texas, Service Experts, a.k.a. SEHAC Holdings Corp, has been backed by U.S. private equity firm American Capital since 2013.
30 March 2016•4 mins read
