Fulcrum Capital invests in Innovative Steam Technologies

Fulcrum Capital Partners said Thursday it has invested in Innovative Steam Technologies via a carve-out. Financial terms weren’t announced. Cambridge, Ontario-based Innovative Steam, which designs, engineers and makes and installs proprietary heat recovery steam generators for power generation, was a subsidiary of Aecon Group Inc.

PRESS RELEASE

TORONTO, ONTARIO and VANCOUVER, BRITISH COLUMBIA–(Marketwired – April 30, 2015) – Fulcrum Capital Partners has partnered with the management of Innovative Steam Technologies (“IST”) to complete a carve-out of IST, previously an independent, wholly owned subsidiary of Aecon Group Inc.
IST designs, engineers, manufactures and installs proprietary heat recovery steam generators for power generation and enhanced oil recovery applications. IST has been in operation since 1992 and over the past 23 years has developed a global market reach with a well-established brand and reputation for quality and performance. IST’s customers include multi-nationals, power utilities, independent power producers, major oil & gas producers and EPC firms, and to date IST has sold over 200 units on six continents. IST has over 170 employees and is headquartered in Cambridge, Ontario.
The investment was made by Fulcrum Capital’s Private Equity Fund V. IST marks the third investment in that fund.
Fulcrum Capital Partners manages over C$675 million of capital through three private equity funds and a portfolio of mezzanine investments. Fulcrum Capital’s investments typically support management buyouts, acquisitions, going private transactions, leveraged buyouts, corporate growth, and recapitalizations.
CONTACT INFORMATION
• Fulcrum Capital Partners Inc.
416-864-2761
info@fulcrumcapital.ca