CPE News (10.4.2022) – Fero International Inc. has received a strategic early stage business investment from Fengate Asset Management, on behalf of the LiUNA Pension Fund of Central and Eastern Canada (LPFCEC).
Founded by CEO Sabrina Fiorellino, COO Alex Scopacasa and CTO Vince DiCristofaro, Hamilton, Ontario based Fero International is a provider of cutting edge, SMART modular solutions across multiple sectors including healthcare, disaster relief, housing, mining and defence.
Funding will enable Fero to rapidly scale its business and quickly deploy its cutting-edge modular infrastructure solutions for healthcare and emergency management.
photo credit: Fero International Inc.
News Release
Fero Receives Strategic Investment From Fengate Asset Management and LiUNA Pension Fund of Central and Eastern Canada
Fero International Inc. is pleased to announce that it has received a strategic investment from Fengate Asset Management on behalf of the LiUNA Pension Fund of Central and Eastern Canada.
This investment will enable Fero to rapidly scale its business and quickly deploy its cutting-edge modular infrastructure solutions for healthcare and emergency management.
HAMILTON, ON, Oct. 4, 2022 /CNW/ – Fero International Inc. (“Fero” or the “Company”), a provider of cutting edge, SMART modular solutions across multiple sectors including healthcare, disaster relief, housing, mining and defence, has received a strategic early stage business investment from Fengate Asset Management (“Fengate”), on behalf of the LiUNA Pension Fund of Central and Eastern Canada (“LPFCEC”).
The closing of this investment will permit Fero to rapidly scale its business by providing the funds needed to quickly commercialize its products as well as secure the required talent.
“We are thrilled to welcome LPFCEC and Fengate as strategic investors in our company. This investment will assist with accelerating our ambitious growth strategy,” said Sabrina Fiorellino, Fero’s Chief Executive Officer. “The world needs innovative, cost-effective, practical solutions to quickly address major infrastructure challenges and constraints in healthcare, Indigenous and remote communities and areas hit hard by natural disasters, wars and other major crises. Having these resources will allow Fero to lead the way.”
“On behalf of the LiUNA Pension Fund of Central and Eastern Canada we are proud to support strong female entrepreneurship and invest in female-led companies that will continue to have an impact across Canada and the potential for positive growth on a global scale,” said Joseph Mancinelli, Chair of LPFCEC. “Female-led companies only received two percent of venture capital funding in 2021- the lowest since 2016 and we are proud of the leadership of Fero, working collaboratively to bring forth positive change in this space.”
“This investment aligns perfectly with our mission to support the needs and aspirations of growth-oriented entrepreneurs and businesses,” said Lou Serafini Jr., President and Chief Executive Officer, Fengate. “We are pleased to partner and work with Sabrina and the Fero team as they accelerate the next stage of their growth.”
About Fero International Inc.
Fero International Inc.’s mission is to bring cutting edge, sustainable and cost-effective modular solutions to the most vulnerable or remote populations around the world. Fero’s products are primarily intended for:
Healthcare, through the offering of facilities for hospitals, laboratories, mining sites, military and long-term care homes; and
Disaster relief and emergency management, through the offering of critical infrastructure solutions such as power, portable clean water solutions and unmanned fire suppression units.
Fero prioritizes the adoption of good corporate governance practices to support sustainable building and manufacturing methods for Fero’s products. Fero aims to further improve lives by structuring its operations to address relevant environmental, social and economic improvement considerations. Learn more at ferointl.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 $10 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
About Fengate Asset Management
Fengate is a leading alternative investment manager focused on infrastructure, private equity and real estate strategies. With offices in Ontario and Texas and team members across North America, Fengate invests in long-life, high-quality assets and businesses on behalf of our clients. With more than 45 years of experience, we are proud of our proven track record and trusted reputation across the sectors we work in. Learn more at fengate.com
Forward Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian and United States securities laws. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, or “believes” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information included in this news release are made as of the date of this news release and the Company does not undertake any obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.
SOURCE Fero International Inc.
SOURCE FERO International Inc.
For further information: Fero International Inc. Contact: Sabrina Fiorellino, Chief Executive Officer, Email: info@ferointl.com, Website: www.ferointl.com