Lynx Equity closes $15 million financing with The Labourers’ Pension Fund
November 19, 2015
Lynx Equity Limited announced today that it has received $15 million in financing from The Labourers’ Pension Fund. “This financing represents the culmination of many significant years of growth and surpassing many of our goals,” commented Lynx President Brad Nathan. “This investment will allow us to continue achieving our strategic goals and we are confident that this marks the beginning of a long and successful relationship with Labourers’.” Over the past five years, Lynx’s revenue has grown 1300%, to over $290 million, and it was named one of Canada’s Fastest Growing Companies by PROFIT Magazine in 2014 and 2015.
The Labourers’ Pension Fund of Central and Eastern Canada is a Multi-Employer Pension Plan (MEPP) established on February 23, 1972. In a MEPP, both the benefits and the contributions are defined. Since its inception, the Fund has grown to almost $5 billion in assets, almost 100,000 members and over 18,000 pensioners and beneficiaries. The Plan is registered under the Ontario Pension Benefits Act and the Income Tax Act. The Labourers’ Pension Fund of Central and Eastern Canada is a union-negotiated, collectively-bargained (Defined Benefit) Pension Plan that has approximately 2,000 unrelated participating employers. The Plan was established primarily to provide retirement benefits for employees under agreements between employers and the Union, and employers and the Trustees of the Plan. If you are an employee of a company that has signed a collective agreement with the Union, your employer is required to make contributions to the Fund on your behalf, based on hours worked at the negotiated contribution rate per hour.
For further information on the Labourers’ Pension Fund, please visit www.liuna.org
With sales in excess of $290 million, Lynx Equity Limited is a diversified private equity firm focusing on acquiring small and medium-sized businesses from owners looking to retire and was recently named one of Canada’s Fastest Growing Companies by PROFIT Magazine. Lynx targets acquisitions of companies with EBITDA between $500,000 and $2.0 million and utilizes a buy and hold strategy.