Export Development Canada (EDC) today announced $13.5 million equity investment in BID Group Holdings Ltd., part of a larger equity transaction led by Highland West Capital Ltd.
On June 19, 2017, BID Group announced the closing of an equity investment with a group of investors led by Highland without disclosing the names of the investors.
The other investors are Roynat Equity Partners, BDC Capital, and other institutional investors.
“EDC’s commitment reflects our interest in helping to build strong companies in a vital Canadian industry,” said Nathan Gibb, Senior Principal, Investments, EDC. “As a company that has grown rapidly through consistent investment and focus on international growth opportunities, BID is exactly the type of high potential company that EDC wants to support and partner with.”
Prince George, BC based BID Group Holdings Ltd. is privately-owned with over 30 years of experience in the forestry sector providing industry leading solutions for its highly-valued customers. One of the largest integrated suppliers to the wood processing industry and the North American leader in the field, BID provides mill equipment and turnkey solutions to the North American wood processing industry.
Over the last five years, BID has completed four acquisitions, tripled revenues, more than doubled its customer base, and diversified its manufacturing capabilities.
“BDC Capital is always looking to partner with growing companies like BID and provide the patient capital, experience and guidance it needs to keep growing and become a world-class player”, said Patrick Latour, Senior Vice President, Growth & Transition Capital at BDC Capital.
“We are excited about the additional opportunities that our partnership with HWCL, EDC, and the rest of our new investors will provide,” said Alistair Cook, CEO, BID. “The additional capital will allow us to accelerate our turnkey offering and ongoing investments in technology to further support our customers.”
“EDC will also enhance its investment in BID by working with the management team to leverage EDC’s global trade expertise, international relationships, and suite of financing and insurance products,” added Gibb.
“This transaction represents the next step in BID’s evolution as we continue our path to be the clear leader in providing solutions to the wood processing industry,” commented Brian Fehr, Founder and Chairman, BID.
photo credit: BID Group