Fulcrum Capital Partners has held a final closing of its fourth private equity fund at C$193 million. Fulcrum’s previous private equity fund was raised in 2005 and had capital commitments of C$140 million. Fulcrum’s new fund is anchored by seven institutional investors including continued support from existing and new institutional investors.
With the closing of Fund IV Fulcrum now manages over C$750 million of capital comprised of two private equity funds with $350 million in committed capital, and a mezzanine finance business in excess of $400 million in committed capital.
Earlier this month, Fulcrum provided $10 million of mezzanine capital to Great Western Containers Group which manufactures, distributes and reconditions industrial containers and packaging supplies. The company serves customers in a range of industries including chemicals, mining, agriculture, and oil and gas. Great Western Containers was founded in 1979 and is headquartered in Calgary and operates 16 locations throughout Canada (www.gwcontainers.com).
Fulcrum Capital Partners and HSBC Bank Canada worked together to provide GWC with an aggregate C$50 million of senior and subordinated credit facilities. The proceeds of the transaction are being used to refinance existing debt and provide capital for future growth.
The equity investments of Fund IV will range from C$5 million to C$30 million and focus on businesses with an enterprise value of C$10 to C$150 million that are in the services, manufacturing, and distribution industries. The fund will operate primarily in Canada and follow the same strategy as the previous three private equity funds. Fulcrum Capital Partners has offices in Vancouver and Toronto (www.fulcrumcapital.ca).