PFM Capital to sell down StorageVault position by $50 mln

StorageVault Canada Inc (TSX-V: SVI), a Regina-based owner and operator of storage facilities, has launched a secondary offering of common shares on behalf of funds managed by Canadian private equity firm PFM Capital. The sale, which forms part of a broader $135 million offering, is priced at $2.65 per unit and is expected to generate gross proceeds to PFM of approximately $50 million, not including the greenshoe option. StorageVault said the sale is the result of a PFM policy to limit investment concentrations in a single company. Regina's PFM, which oversees $652 million in assets, invests in mid-market businesses.

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