Canadian private equity firm Mosaic Capital Corp announced that CEO Mark Gardhouse has assumed the additional role of president. He replaces Harold Kunik, a Mosaic co-founder, who will continue to serve on the board. Gardhouse and George Flemming, president and CEO of oil and industrial services company Plains Environmental Inc, were also appointed directors. Gardhouse joined Mosaic, a Calgary-based investor in established, mid-market Canadian businesses, in mid-2016. His prior private equity career includes leading CA Bancorp and the mid-market buyout group at Roynat Capital.
Mosaic Capital Corporation Announces New Director and Management Appointments
CALGARY, May 30, 2018 /CNW/ – Mosaic Capital Corporation (“Mosaic”), (“Company”) (TSX-V Symbols: M and M.DB) is pleased to announce that Mark Gardhouse and George Flemming have been appointed as directors of Mosaic. Furthermore, Mosaic is pleased to announce that Mark Gardhouse has assumed the role of President in addition to his current CEO role at the Company.
Mosaic’s board of directors now consists of John Mackay, Harold Kunik, William Smith, Gary Bentham, Mark Gardhouse and George Flemming.
Mark Gardhouse joined Mosaic in July 2016 and prior to that, for five years, had been the President and CEO of a $500 million revenue conglomerate headquartered in Edmonton, Alberta. From 2005 to 2010, Mark held the position of President and COO of C.A. Bancorp Inc., a Toronto Stock Exchange listed alternative asset management firm, which he successfully grew from start-up to $560 million in assets under management. Prior thereto, Mark led the equity buyout group at RoyNat Capital Inc. with a focus on transactions in the Canadian middle market.
George Flemming was President and CEO of Plains Environmental Inc., a private oilfield and industrial services firm, where he remains as a director and shareholder. Since May 2016 George has worked as an independent investor and consultant. From 2000 until 2009, George was an investment banker with Canaccord Genuity Group Inc. where he focused on capital raising, advisory engagements and corporate transactions in the oilfield services and diversified industries sectors. Prior thereto, George was a corporate and securities lawyer for an Alberta-based regional law firm. In connection with George Flemming’s appointment to the board, Mosaic issued Mr. Flemming 2,083 restricted securities units (“RSUs”) and 9,393 options to purchase Mosaic common shares (“Options”). The Options have an exercise price of $6.00 and, subject to certain conditions, will expire 5 years from the date of grant. The RSUs and Options granted will vest yearly in three equal tranches starting in April of 2019.
“We are privileged to welcome Mark and George to our Board as new, valued members that will offer strategic, operational and capital markets experience and depth as Mosaic enters its eighth year as a public company,” commented John Mackay, Executive Chairman of Mosaic. “We would like to thank Harold Kunik for his extensive efforts on Mosaic’s management team since inception, most recently as President, and we look forward to his continued contributions at the board level. We would also like to thank Roger Giovanetto who, after many years of service, did not stand for re-election as a director at Mosaic’s 2018 Annual General Meeting.”
ABOUT MOSAIC CAPITAL CORPORATION
Mosaic is a Canadian investment company that owns a portfolio of established businesses which span a diverse range of industries and geographies. Mosaic’s strategy is to create long-term value for its shareholders through accretive acquisitions, long-term portfolio ownership, sustained cash flows and organic portfolio growth. Mosaic achieves its objectives by maintaining financial discipline, acquiring businesses at attractive valuations, performing extensive acquisition due diligence, utilizing optimal transaction structuring and working closely with subsidiary businesses after acquisition.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Mosaic Capital Corporation
For further information: please visit our website or contact: Cam Deller, Vice President, Corporate Development, Mosaic Capital Corporation, 400, 2424 – 4th Street SW, Calgary, AB T2S 2T4, T: (403) 930-6576, E: firstname.lastname@example.org, www.mosiccapitalcorp.com