Clearspring Capital leads $70 mln equity investment in Telecon
Canadian telecommunication network services provider Telecon Inc has closed a $70 million equity financing. The deal was led by Clearspring Capital Partners, a Canadian private equity firm. As a result, Clearspring will hold a 35 percent interest in the company and Managing Director Lawrence Stevenson will become board chairman. Caisse de dépôt et placement du Québec, which owns a 30 percent interest, and Telecon management, led by President and CEO André Héroux, also invested. Montréal's Telecon, which is also backed by Capital régional et coopératif Desjardins, said the funds raised will allow it to grow its Canadian footprint and strengthen the capital structure.
13 July 2017•5 mins read
