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| Home : Lynx Equity Completes Debt Financing with the Toronto-Dominion Bank |
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May 14
2013 |
Lynx Equity Completes Debt Financing with the Toronto-Dominion Bank |
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TORONTO, ONTARIO--(Marketwired - May 14, 2013) - Lynx Equity Limited ("Lynx") announced today that, with the assistance of Cranson Capital Solutions ("Cranson"), it has arranged a bank facility with the Toronto-Dominion Bank ("TD") in connection with its recent acquisition of Superior Road Products ("Superior"). This financing will facilitate Lynx's continued growth in 2013. "We are very pleased to be entering into this partnership," commented Lynx's President, Brad Nathan. "We have an excellent working relationship with TD, and look forward to building on this facility. The financing represents a new step for Lynx as the loan was extended based on the consistent cash flow of Superior rather than its tangible net book value," Nathan stated. "Given Lynx's strategy to acquire businesses with a solid track record of positive cash flow, we will likely continue to utilize this financing strategy." Lynx has closed three acquisitions to date in 2013 and continues to pursue several opportunities in the small to medium sized business market in which their expanding portfolio is focused. |
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| Source:http://www.marketwire.com/mw/release.do?id=1790657&sourceType=3 |
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