ONCAP's Pinnacle Renewable files to go public in Canada

Pinnacle Renewable Holdings Inc, a Richmond, British Columbia-based industrial wood pellet manufacturer and distributor, has filed a preliminary prospectus with Canadian securities regulators for an initial public offering of common shares. The IPO has not yet been priced; however, Reuters reported the company is looking to raise about $175 million. The offering contemplates a secondary sale of shares by ONCAP, the mid-market investment arm of Canadian private equity firm Onex Corp. ONCAP acquired a majority stake in Pinnacle in 2011, investing $71 million in the deal. The IPO is being co-led by CIBC Capital Markets and RBC Capital Markets.

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