VAUGHAN, ON, Sept. 23, 2021 /CNW/ - York Group of Companies ("York"), a leading provider of environmental and infrastructure services in Ontario has secured a new senior credit facility co-led by the Royal Bank of Canada and the National Bank of Canada with a syndicate of financial institutions including Toronto-Dominion and The Bank of Nova Scotia. The positive response York has received from the Canadian banking syndicate reflects confidence in York's strong asset base, demonstrated track record, and growth-focused business model.
"The addition of this new senior credit facility will allow York to continue to execute on its aggressive growth strategy and enable us to deliver on our next phase of expansion, following the equity investment earlier this year" stated Brian Brunetti, President of the York Group of Companies.
This new credit facility, combined with the investment received from Fengate Asset Management, on behalf of the LiUNA Pension Fund of Central and Eastern Canada, in January 2021, will be primarily used to execute on York's pipeline of M&A and other strategic opportunities.
Canadian-based York Group of Companies has prided itself as a recognized leader in the environmental and infrastructure industry for over 55 years, having provided bulk excavation, demolition, shoring and foundations, environmental remediation, contaminated soil treatment and transfer, and waste collection and transfer for some of the largest infrastructure, commercial and residential projects in Ontario. In 2021, Fengate Asset Management and LiUNA Pension Fund of Central and Eastern Canada (LPFCEC) invested in York, marking its next phase of growth capital and strategic opportunities.
About Fengate Asset Management
Fengate is a leading alternative investment manager, with over $4 billion of capital commitments under management, focused on infrastructure, private equity, and real estate strategies. With offices in Toronto and Oakville, Ontario and Houston, Texas, Fengate leverages more than 45 years of entrepreneurial experience to deliver excellent investment results on behalf of its clients and transformational growth capital for its portfolio companies. Learn more at fengate.com.
About LiUNA Pension Fund of Central and Eastern Canada
Established in 1972, the LiUNA Pension Fund of Central and Eastern Canada (LPFCEC) is one of the fastest growing multi-employer pension funds across Canada, voted top 10 pension funds by Benefits Canada. With a diverse investment portfolio and $8 billion in assets, LPFCEC has yielded positive returns for the plan, great work opportunities for LiUNA members, and has created many needed institutions across North America through a broad range of alternative investments. Learn more at lpfcec.org.
SOURCE York Group of Companies
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