Birch Hill-backed GDI commences public trading, raises $150 mln
GDI Integrated Facility Services Inc (TSX: GDI) has completed its previously announced going public transaction that combined it with Medwell Capital Corp. The company also closed a concurrent public offering that will give it gross proceeds of $150.4 million. As a result, GDI, a janitorial and related services provider with headquarters in Montréal, commenced trading on the Toronto Stock Exchange under the symbol "GDI." Both GDI and Medwell have been portfolio investments of Canadian private equity firm Birch Hill Equity Partners. The investor is expected to obtain over $100 million of offering proceeds and remain a backer of the publicly-listed company. Birch Hill invested in GDI in 2012.
14 May 2015•3 mins read
