Alaris Royalty commits $30 mln of equity to Providence Industries
Canadian alternative equity firm Alaris Royalty Corp has invested US$30 million in M-Rhino Holdings LLC, operating as Providence Industries and MyDyer. Based in Long Beach, California, Providence is a provider of design, engineering, development, manufacturing and sourcing services to apparel companies and retailers. In exchange for the investment, Alaris will receive a US$4.5 million distribution for the first full year following the deal. Alaris also committed US$4.35 million in follow-on capital to existing partner LMS Reinforcing Steel Group of Surrey, British Columbia. LMS recently acquired Johasee Rebar Inc.
1 April 2016•9 mins read
