Canadian alternative equity firm Alaris Royalty Corp has committed an additional US$6 million to Sandbox Group LLC, a Chicago marketing and advertising services specialist. Alaris first funded the company last year. The firm also committed an additional US$2 million to C&C Communications LLC, a Federal Way, Washington Sprint preferred retailer, also backed in 2016. Alaris said the proceeds of the deals will help the companies make acquisitions. Alaris has so far this year deployed about $150 million in capital, including to Sales Benchmark Index LLC, the firm’s largest investment on record.
Alaris Royalty Corp. Announces Contributions to Sandbox and ccComm
CALGARY, Alberta, Sept. 21, 2017 (GLOBE NEWSWIRE) — Alaris Royalty Corp. (“Alaris” or the “Corporation”) (TSX:AD) is pleased to announce today that it has contributed an additional US$6.0 million (the “Sandbox Contribution”) to Sandbox Acquisitions, LLC (“Sandbox”) and an additional US$2.0 million (the “ccComm Contribution”) to C&C Communications, LLC (“ccComm”).
In exchange for the Sandbox Contribution, Alaris will receive an annualized distribution of approximately US$0.9 million in addition to the US$3.5 million it already receives, and in exchange for the ccComm Contribution, Alaris will receive approximately US$0.3 million in annualized distributions in addition to the US$0.6 million they currently receive from ccComm. Alaris has contributed a total of US$28 million and US$6.0 million to Sandbox and ccComm respectively since partnering with them. Both Sandbox and ccComm used the proceeds from Alaris to make acquisitions in their respective industries.
Alaris has deployed approximately CAD$150 million of capital thus far in 2017.
About the Corporation:
Alaris provides alternative financing to private company partners (the “Partners”) in exchange for distributions with the principal objective of generating stable and predictable cash flows for dividend payments to its shareholders. Distributions from the Partners are adjusted each year based on the percentage change of a “top line” financial performance measure such as gross margin and same-store sales and rank in priority to the owners’ common equity position.
For further information please contact:
Vice President, Investments and Investor Relations
Alaris Royalty Corp.
P: (403) 221-7305
Suite 250, 333 24th Avenue S.W.
Calgary, Alberta T2S 3E6
Photo courtesy of C&C Communications LLC