BDC Capital recently provided $6 million in mezzanine financing for the acquisition by Lynx Equity of Alpine Shredders, a Kitchener, Ontario-based provider of mobile shredding trucks.
Lynx, a Canadian private equity firm, announced it had acquired the company in February. No financial terms were disclosed.
BDC invested through its Growth & Transition Capital group. The transaction was led by Director Mark Lunick.
Established in 2004, Alpine designs and builds paper shredding and mobile truck equipment for the North American market.
Alpine Shredders of Kitchener acquired by Lynx Equity with $6M financing from BDC Capital
KITCHENER, May 13, 2019—BDC Capital’s Growth and Transition Capital division provided 6 million dollars in mezzanine financing to Lynx Equity for the acquisition in February of Alpine Shredders of Kitchener, Ontario. Lynx Equity is a Toronto-based diversified private equity firm focused on acquiring small and medium-sized businesses from retiring owners. Founded in 2004, Alpine Shredders designs and builds innovative, premium quality mobile shredding trucks for the North American market.
“The entire team at BDC has been a pleasure to work with,” commented Lynx Equity President, Brad Nathan. “They had a clear understanding of our business model and needs, and we look forward to working with them on many future transactions.”
The capital provided by BDC Capital is patient, personalized and non-dilutive. The transaction was led by Mark Lunick, Director, Growth & Transition Capital, for Southwestern Ontario. “Alpine’s new owners approached this purchase with a lot of diligence and respect for the company’s achievements to date,” said Lunick. “The cultural fit between the two teams is evident. Lynx will now employ their experience and means to support Alpine’s existing management as they take more calculated risks to grow the company.”
About Lynx Equity
With sales in excess of $450M CAD, Lynx Equity Limited is a Toronto-based diversified private equity firm focused on acquiring small and medium-sized businesses from owners looking to retire. Lynx targets acquisitions of companies across North America and Europe with EBITDA between $750k and $2M USD and utilizes a buy and hold strategy. For further information on Lynx Equity, please visit www.lynxequity.com.
About BDC Capital
BDC Capital is the investment arm of BDC-Canada’s only bank devoted exclusively to entrepreneurs. With more than $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers a full spectrum of risk capital, from seed investments to transition capital, supporting Canadian entrepreneurs who wish to scale their businesses into global champions. Visit bdc.ca/capital.