Equity Financial Holdings to be taken private in $93 mln deal
Equity Financial Holdings Inc (TSX: EQI), a Toronto-based provider of residential first mortgage loans through its affiliate, Equity Financial Trust Co, has agreed to be taken private. The deal, which is being led by Canadian activist investor Smoothwater Capital Corp, implies an equity value of about $93 million. Prior to the close of the deal, Smoothwater, an existing shareholder, will be joined by Hennick & Co, Freycinet Ventures and other investors prepared to commit capital and assume a role in the privatized company. Smoothwater will remain the controlling investor. Smoothwater CEO Stephen Griggs is currently Equity's chairman.
31 October 2017•6 mins read
