In September 2021, Pivot Financial announced the closing of an interest only senior secured term loan with Western Fibre Communication Corp. (“Moby”). Proceeds from the 1.5 year committed facility will be used to expand the company’s existing fibre optic network and customer base. Moby is a micro telecom service provider of fibre optic internet and telephone services targeting the residential and commercial needs of customers in Calgary.
We were introduced to Pivot through one of our existing shareholders and they have executed as promised in all respects to date.
In June 2021, Pivot Financial announced the recent closing of an amortizing senior term loan facility with JTS Mechanical Systems Inc. (“JTS”). Proceeds from the 1.5 year committed facility were used to acquire Century Mechanical Service Inc. (“CMS”) and provide for ongoing working capital needs. Based in Southwestern Ontario, JTS provide mechanical contracting services in support of the installation and servicing of HVAC and plumbing infrastructure. CMS serve a similar customer base which is primarily located in the Ottawa region.
We were introduced to Pivot through a trusted advisor, and their pragmatic approach and responsiveness ensured a timely close of this important transaction for us.
In August 2021, RCP-4Front Private Credit 1 LP and Pivot Financial Inc. announced that they acted as club lenders on an asset based senior secured revolving and term loan facility for High North Laboratories (“HNL”). HNL is a specialized testing company dedicated entirely to serving the needs of licensed Cannabis producers internationally. Operating out of GMP accredited and ISO compliant state of the art facilities in Vaughan, Ontario, the company strives to deliver faster and more reliable results in the shortest possible turnaround time. Proceeds were used to acquire new specialized testing equipment and fund the general working capital needs required to support HNL’s continued revenue growth.
This senior debt facility is an important milestone and will enable HNL to expand its capacity, enabling it to deliver a superior service offering to an increasing number of licensed producers in Canada and internationally.
In February 2022, Pivot Financial assisted SQI Diagnostics Inc. (“SQI”) in the purchase of Precision Biomonitoring (“PBI”) by agenting a $7,500,000 two (2) month senior secured bridge facility. SQI (TSXV: SQD) is a leader in the science of lung health that develops and manufactures respiratory health and precision medical tests that run on SQI’s fully automated systems. The assets acquired from PBI related to its human diagnostic COVID – 19 PCR molecular testing business. The merger of the two business resulted in significant synergies including cross selling opportunities between their respective client bases.
The Pivot team executed in an extremely tight timeframe to ensure the timely close of this transaction and we appreciated their successful delivery on that commitment.
In February 2022, Pivot Financial announced the closing of an interest only senior secured term loan with Segra International Corp. (“Segra”). Proceeds from the 1.5 year committed facility will be used to expand the company’s production capacity. Based in Vancouver, BC, Segra is an agriculture technology company specializing in the production of genetically uniform, disease free cannabis tissue culture young plants. Segra’s proprietary process produces clean-stock young cannabis plants under laboratory conditions, including advanced quality control measures to ensure there are no detectable plant pathogens in its products. Segra’s current customer list includes many of the largest cannabis producers in Canada, and internationally.
This non-dilutive capital raise will facilitate the next phase of Segra’s growth and we appreciate Pivot’s support and confidence in our management team.
In April 2021, Pivot Financial announced the recent closing of an interest only senior term loan facility with POMEGRAN Inc. Proceeds from the 1.5 year committed facility were used to acquire Cochrane Telecom Services and provide capital to expand the network. Headquartered in Toronto, Ontario, POMEGRAN and its subsidiary EION Inc., are an original equipment manufacturer of wireless networking products and also operate a regional internet provider branded IceNet Wireless, in Newfoundland.
The Pivot team have been responsive from the outset of our discussions and we’re pleased to have partnered with them as we expand into new geographies.
In March 2021, Pivot Financial announced the closing of a revolving credit and amortizing term loan facility with Unique Environmental Service Inc. (“UES”). Proceeds from the 1.0 year committed facility were used to refinance its senior credit facilities and fund new equipment purchases to expand the company’s production capacity. Headquartered in Pickering, Ontario, UES specializes in reconditioning and recycling post-industrial plastic containers for an international client base.
This financing comes at an important time as we expand to meet the increasing demand for our services. Pivot took the time to understand our business and we appreciate their support.
In February 2021, Pivot Financial announced the closing of an interest only senior term loan facility with Aexos Inc. Established in 2015 and based in Waterloo, Ontario, the company has developed proprietary technology in support of the prevention of neck injuries applicable to a broad array of sport, health safety and professional activities. Through a rate sensitive foam, its HALO under garment is designed to reduce neck accelerations during impact by momentarily stiffening . It also provides support to joints and muscles without affecting mobility.
We were introduced to the Pivot team through a trusted advisor and they proved to be flexible through the diligence process to ensure a timely close.
In December 2020, Pivot Financial announced the closing of a cross border revolving credit and interest only term loan facility with Durafast Label Company, a division of Sector Nine Distribution Limited. Proceeds from the 1.5 year committed facility were used to refinance its senior credit facilities and provide working capital to enable the management team to execute on its business plan. Headquartered in Etobicoke, Ontario, DuraFast distributes leading brands of label printing equipment and business printers and copiers throughout Canada and the U.S.
We were introduced to Pivot through a trusted advisor and they provided us with the growth capital required to enable us to meet the increasing demand for our labeling products.
In November 2020, Pivot Financial announced the closing of a $1,480,000 senior term loan facility with Kane Biotech Inc. ("KBI"). Proceeds were used to provide working capital to enable the management team to further commercialize its portfolio of proprietary intellectual property and execute on its business plan. Publicly traded on the TSX-V under KNE, KBI is a biotechnology company engaged in the research, development and commercialization of technologies and products that prevent and remove microbial biofilms.
Pivot’s approach to our request was thoughtful and their execution was efficient and pragmatic. We’re pleased to have partnered with them on this non dilutive capital raise.
In September 2020, Pivot Financial announced the closing of a $7,500,000 cross border revolving credit and interest only term loan facility with Greenspace Brands Inc. ("GBI"). Proceeds were used to refinance its senior credit facilities and provide working capital to enable the management team to execute on its business plan. Established in 2002 and publicly traded on the TSX JTR.V, GBI is an organic food brand management company that develops and markets premium natural food products through major retailers across North America.
Pivot was recommended to us by a close advisor to our management team, and they delivered as promised in all aspects of their undertakings to us.
In September 2020, Pivot Financial announced the closing of $US and $Cnd revolving credit and interest only term loan facilities with Hockey Shot Inc. ("HSI"). Proceeds were used to refinance its incumbent senior lender, pay down institutional subordinated debt and provide working capital to enable the management team to execute on its business plan. Established in 1995, HSI is a made in Canada R&D success story that has grown to be the largest online specialty retailer of hockey training equipment worldwide.
We were introduced to Pivot through a trusted advisor and they've been great to deal with, from the introductory meeting through the administrative onboarding process.
In June 2020, Pivot Financial congratulated the management team of Mobile Klinik ("MK") on the sale of their business to Telus Mobility. Pivot was a subordinated lender to MK with an interest only term loan that was used for expansion purposes. MK is a national retail chain of over 80 service centers specializing in the ‘while you wait’ repair of smartphones and tablets. All repairs are done onsite by trained customer service oriented technicians.
Pivot was creative in their approach to our financing requirements and proved to be a very supportive financial partner for us.
In June 2020, Pivot Financial announced the closing of a senior secured interest only term loan with Origine Nature Inc. ("Origine"). Proceeds were used to expand the company's production facilities and for general working capital purposes to enable the company to execute on its business plan. Established in 2017, Origine operates as a niche producer of craft cannabis products which are "produced in Quebec, by Quebecers for Quebecers".
We closed on this credit facility with the same terms that Pivot had originally provided during our initial introductory call with them. They delivered on their verbal commitment as promised.
In June 2020, Pivot Financial announced the closing of revolving credit and interest only term loan facilities with Ingersoll Products Inc. ("IPI"). Proceeds were used to refinance its incumbent senior lender and for working capital to enable management to execute on its business plan. IPI is a manufacturer of do-it-yourself home renovation products and provides filing services for other manufacturers and retailers, including hand sanitizers.
We were introduced to Pivot through an advisor we'd engaged to help us source growth capital, and they have proven to be very responsive and accommodating during diligence through close.
In June 2020, Pivot Financial announced the upsizing of an interest only subordinated term loan facility with Beyond Energy Service and Technology Corp. ("BEST"). Proceeds were used for general working capital purposes to enable the company to execute on its business plan. Founded in 2015, BEST provides managed pressure drilling services to major oil and gas exploration companies throughout North America and overseas.
Pivot has been very supportive of our management team. We were very impressed by their execution of our recent financing request, from the initial telephone call through to funding.
In June 2020, Pivot Financial announced the upsizing of term and revolving loan facilities with Nutem Custom Manufacturing Ltd. ("Nutem"). Proceeds were used for general working capital purposes and to purchase new equipment for the expansion of their production facilities. Nutem is a world class developer of a wide range of private label co-packaged household products supplying customers in Canada and the United States.
Pivot's capital has enabled us to expand our production capabilities and accelerate our revenue growth. They've been easy to deal with and we are pleased to have partnered with them.
In June 2020, Pivot Financial announced the closing of an interest only term loan facility with Shop 4 Charity ("S4C"). Proceeds were used for general working capital purposes to enable the company to execute on its business plan. S4C is a "for profit" business that generates donations for leading charitable organizations through targeted direct marketing strategies including social media. The business was established in 2013 by the current management team.
We were introduced to Pivot through a financial consultant we'd engaged to advise us on this capital raise. They've developed a good understanding of our business and we're pleased to have them as a financial partner.