Distinct buys Crown Utilities, brings on SeaFort as investor
Distinct Infrastructure Group Inc (TSX-V: DUG) has acquired Crown Utilities Ltd, a Winnipeg-based specialist in the installation of utility services, for $17 million. Distinct, a Toronto-based infrastructure provider for utilities and local governments, said the deal accelerates its growth and gives it a foothold in Manitoba. Distinct also refinanced its credit facility and completed a $10 million private offering of shares, part of which was used to help fund the acquisition. The investor was Canadian private equity firm SeaFort Capital. As a result, SeaFort holds a 15.8 percent interest and has a seat on the board. Distinct is also a portfolio company of Crown Capital Partners.
21 November 2017•6 mins read
