Fengate Asset Management has made a growth investment in York Group of Companies, a Vaughan, Ontario-based provider of environmental and infrastructure services. No financial terms were disclosed. Fengate, a Canadian alternative investment manager, invested on behalf of LiUNA Pension Fund of Central and Eastern Canada.
TORONTO, Jan. 11, 2021 /CNW/ – Fengate Asset Management (“Fengate”) and York Group of Companies (“York”) are pleased to announce that Fengate has completed an investment in York on behalf of the LiUNA Pension Fund of Central and Eastern Canada (“LPFCEC”). The partnership with York, Fengate and LPFCEC will provide York with growth capital to continue to execute on its robust pipeline of M&A and other strategic opportunities.
York is a leading provider of environmental and infrastructure services in Ontario. The company has provided excavation, demolition, shoring, environmental remediation, contaminated soil treatment and transfer, and waste collection and transfer services to some of the largest infrastructure, commercial, and residential projects in the Greater Toronto Area, including Rogers Centre, Scotiabank Arena, Scotia Plaza, Metro Toronto Convention Centre, Roy Thomson Hall, St. Joseph’s Hospital, Eaton Centre, and CN Tower, among others.
“Fengate is very pleased to partner with the management team and existing ownership group of York, a leading player in a fragmented sector, on behalf of our client, LPFCEC,” said Justin Catalano, Managing Director and Group Head of Private Equity, Fengate. “York’s strong team, track record and pipeline of opportunities clearly indicate the company is ready for the next stage of growth, and we are excited to be a part of it.”
“LiUNA is proud of its investment in York, a leading provider of key services within the GTA and province of Ontario, with our pension fund continuing to invest in the region’s continued economic growth during the pandemic era,” said Joseph Mancinelli, LiUNA International Vice President and Regional Manager for Central and Eastern Canada. “York is a high-profile investment for LiUNA, building on a long-standing relationship between the two organizations spanning many years.”
“We are excited about this partnership with Fengate and LPFCEC, which marks an important milestone signaling the next phase of growth for York. It is very important for York to partner with investors who share the same principles, values and vision of creating one of the best-in-class infrastructure and environmental services companies in North America. York has been executing an aggressive growth strategy and partnering with Fengate will enable us to deliver on the next phase of growth, while ensuring our customers are provided with peace of mind performance and service excellence for all services we offer,” said Brian Brunetti, President & COO, York. “We are proud of the success our team has realized over the last few years and are excited about the prospects that lie ahead.”
About Fengate Asset Management
Fengate is a leading alternative investment manager, with $4.5 billion of capital commitments under management, focused on infrastructure, private equity, and real estate strategies. With offices in Toronto and Oakville, Ontario, and Houston, Texas, Fengate leverages more than 45 years of entrepreneurial experience to deliver excellent investment results on behalf of its clients and transformational growth capital for its portfolio companies.
Learn more at fengate.com.
About LiUNA Pension Fund of Central and Eastern Canada
Established in 1972, the LiUNA Pension Fund of Central and Eastern Canada (LPFCEC) is one of the fastest growing multi-employer pension funds across Canada, voted top 10 pension funds by Benefits Canada. With a diverse investment portfolio and $8 billion in assets, LPFCEC has yielded positive returns for the plan, great work opportunities for LiUNA members, and has created many needed institutions across North America through a broad range of alternative investments. Learn more at lpfcec.org.
About York Group of Companies
Canadian-based York Group of Companies has prided itself as a recognized leader in the environmental and infrastructure industry for over 55 years, having provided bulk excavation, demolition, environmental remediation, contaminated soil treatment and transfer, and waste collection and transfer for some of the largest infrastructure, commercial and residential projects in Ontario.