Fairfax Financial to invest $150 mln in Mosaic Capital
Fairfax Financial Holdings Ltd has agreed to invest in Mosaic Capital Corp, a Calgary-based private equity firm. Fairfax agreed to subscribe for $150 million of senior preferred securities, secured debentures and common share purchase warrants. If the warrants are fully exercised, it would own about 66 percent of Mosaic's shares. With the deal's close, expected in January, Fairfax President Paul Rivett will be appointed as a director. As part of the deal, Mosaic and Fairfax agreed to work together on mid-market private equity opportunities. Mosaic appointed Mark Gardhouse as its CEO in July. In August, it agreed to buy Mackow Industries.
23 December 2016•6 mins read
