On June 27, 2017, Power Survey and Equipment Ltd. secured US$24M in its Class A2 preferred financing round. The round was initiated by the company’s majority investor EnerTech Capital and Investissement Québec alongside new investors led by Cycle Capital Management joined by Fonds de solidarité FTQ and BDC Capital.
Since 1948, Power Survey and Equipment Ltd., (PS) has been a market-leading provider of customized power factor correction and harmonic filtering technologies and solutions. The funding will be used to support company growth, including the PSL acquisition, as well as geographic expansion and new product development. Moreover, the funding will solidify the position of Power Survey and Equipment Ltd. in the market.
EnerTech Capital is a venture capital and private equity firm specializing in startups, early, mid, later, to expansion stage investments, and growth capital.
Investissement Québec offers guidance and financial solutions to corporations that are looking to set up in Québec.
Cycle Capital provides venture capital fund management solutions to companies at their development and commercialization stages.
The Fonds de solidarité FTQ (“Fonds”) is a Québec development capital organization whose overriding mission is to invest in local businesses to further the economic development of all the regions of Québec.
BDC Capital Inc. is a federal Crown Corporation wholly owned by the Government of Canada. It mandate is to help create and develop Canadian businesses through financing, growth and transition capital, venture capital and advisory services, with a focus on small and medium-sized enterprises.
Osler, Hoskin and Harcout LLP represented Power Survey and Equipment World with a team consisting of Shahir Guindi, Geneviève Burdon, Marisa Corona and Caitlin Wetherly (Corporate).