Origin Merchant Partners is pleased to announce that Powerline Plus Ltd. and PLP Redimix, Ltd. (collectively “Powerline”) have been acquired by MYR Group Inc. (“MYR Group”). Origin Merchant Partners acted as exclusive financial advisor to Powerline with respect to this transaction.
Powerline is a leading full-service electrical distribution construction company, headquartered in Toronto, Ontario. Founded in 1990, Powerline has grown in both size and stature, rapidly moving to the forefront of its industry. With a scope of operations that encompasses engineering and design, civil, electrical and distributed generation and other services, Powerline provides innovative, reliable, and cost-effective solutions, tailored to customer budgets, timelines, and environmental pressures.
MYR Group (NASDAQ: MYRG) is a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets throughout the United States and Canada, with the experience and expertise to complete electrical installations of any type and size.
Origin Senior Leads: Darren Williams.
Origin Merchant Partners is pleased to announce the successful sale of CGI Automated Manufacturing, Inc. (“CGI”) to CORE Industrial Partners. Origin Merchant Partners acted as the exclusive financial advisor to CGI Autmoated Manufacturing, Inc.
CGI is a leading provider of complex sheet metal production parts, assemblies and weldments for a variety of end markets, including electrical transmission and distribution, medical, food, lighting and industrials.
CORE Industrial Partners is a Chicago-based private equity firm with more than $700 million of capital commitments investing in North American lower middle-market manufacturing, industrial technology and services businesses.
Origin Senior Lead: Nick Newlin
Origin Merchant Partners is pleased to provide a Formal Valuation and Fairness opinion to the Special Committee of the Board of Directors of Hydrogenics Corporation (“Hydrogenics”) with respect to a proposed acquisition by Cummins Inc. (“Cummins”) for all of the outstanding shares of Hydrogenics, other than the shares already owned by The Hydrogen Company.
Hydrogenics is a world leader in engineering and building the technologies required to enable the acceleration of a global power shift. Headquartered in Mississauga, Ontario, Hydrogenics provides hydrogen generation, energy storage and hydrogen power modules to its customers and partners around the world. Hydrogenics has manufacturing sites in Germany, Belgium and Canada and service centers in Russia, Europe, the US and Canada.
Cummins, a global power leader, is a corporation of complementary business units that design, manufacture, distribute and service a broad portfolio of power solutions. The company’s products range from diesel and natural gas engines to hybrid and electric platforms, as well as related technologies, including battery systems, fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. Cummins serves customers in approximately 190 countries and territories through a network of approximately 600 company-owned and independent distributor locations and over 7,600 dealer locations and generated sales of $23.8 billion in 2018.
Origin Senior Lead: Jim Osler
Origin Merchant Securities Inc. is pleased to announce that Wyse Meter Solutions has received a significant minority investment from ONCAP.
Origin Merchant Securities Inc. acted as exclusive financial advisor to Wyse Meter Solutions with respect to this transaction.
Wyse Meter Solutions Inc. (“Wyse”) provides turnkey submetering and utility expense management services to building owners, developers and property managers across Canada. Headquartered in Newmarket, Ontario, Wyse is licensed and regulated by the Ontario Energy Board, delivering its services in seven provinces.
ONCAP is the mid-market private equity platform of Onex. In partnership with operating company management teams, ONCAP invests in and builds value in North American headquartered medium-sized businesses that are market leaders and possess meaningful growth potential.
Origin Senior Leads: Rob Penteliuk, Jim Osler
Origin Merchant Partners is pleased to announce that The Society of Energy Professionals (“The Society”) has completed its acquisition of shares of Hydro One Limited (“Hydro One”) and the related arrangement and structuring of financing for an aggregate investment of approximately $39 million.
Origin Merchant Partners acted as exclusive financial advisor to The Society with respect to this transaction.
The Society of Energy Professionals represents more than 8,000 professional employees in the electricity industry in Ontario, including engineers, scientists, supervisors and finance specialists. Formed in 1948, The Society advocates for long-term, evidence-based planning and decision-making in the energy sector. The Society is Local 160 of the International Federation of Professional and Technical Engineers, based in Washington, D.C. with 80,000 members in the U.S. and Canada.
Hydro One Limited is Ontario’s largest electrical transmission and distribution utility with approximately $23 billion in assets and 2014 revenues of over $6 billion. Hydro One’s regulated transmission and distribution operations are owned by Hydro One Inc., a wholly-owned subsidiary of the Company. Hydro One Inc. owns and operates Ontario’s approximately 29,000 km high-voltage transmission network and an approximately 122,000 circuit km primary low-voltage distribution network.
Origin Senior Leads: Andrew Muirhead, Jim Osler
Origin Merchant Securities Inc. assisted Pure Energies Group (“Pure”) in securing US$5.7 million in a combination of bridge equity and debt financing in advance of its successful transaction with NRG Energy, Inc. (“NRG”).
Origin Merchant Securities Inc. arranged the financing to support the growth of Pure during their strategic review process and through the closing of their sale transaction to NRG.
Pure Energies Group (“Pure”) is a leading energy advisor in Canada and the United States. Pure helps homeowners save money on their electricity bills while helping them invest in a more sustainable lifestyle. Pure is committed to being the most trusted energy advisor to homeowners by facilitating the adoption of solar energy and home conservation products across North America for the benefit of communities and future generations. With locations in Toronto, Mississauga and San Francisco, Pure is proudly representing North America in the rapidly expanding international solar, LED and EV market, as a top energy company. Pure completes the residential solar capabilities that NRG, a Fortune 250 company, has been working to assemble.
Origin Merchant Securities Inc. (“OMSI”) is a wholly-owned affiliate of Origin Merchant Partners. OMSI is an exempt market dealer that will agent private placements of debt and equity securities to finance the acquisition capital, growth capital or recapitalization needs of our clients.
Origin Senior Lead: Jim Osler
Origin Merchant Partners is pleased to announce that Capstone Infrastructure Corporation (“Capstone”) and Renewable Energy Developers Inc. (“ReD”, formerly Sprott Power Corp.) have successfully completed the previously announced plan of arrangement (the “Arrangement”) pursuant to which Capstone acquired all of the issued and outstanding common shares of ReD.With the completion of the Arrangement, it is anticipated that the ReD shares will be delisted from the TSX as soon as practicable. ReD is now a subsidiary of Capstone.
Origin Merchant Partners acted as financial advisor to Capstone with respect to this transaction.
Capstone Infrastructure Corporation’s mission is to build and responsibly manage a high quality portfolio of infrastructure businesses in Canada and internationally in order to deliver a superior total return to shareholders by providing reliable income and capital appreciation. Capstone’s portfolio comprises investments in Canada’s power infrastructure, including gas cogeneration, wind, hydro, biomass and solar power generating facilities, representing approximately net 465 megawatts of installed capacity, and contracted wind power development projects totalling net 79 megawatts of capacity. Capstone also invests in utilities, including a 33.3% interest in a district heating business in Sweden, and a 50% interest in a regulated water utility in the United Kingdom. For more information, please visit www.capstoneinfrastructure.com.
Origin Senior Lead: Jim Osler
