Firepower Capital Secures Over C$250 Million Commitment Through Finitive Platform
FirePower will use the new capital – in excess of C$250 million – to provide secured term loans to “asset-lite” mid-sized Canadian businesses, and to purchase loan portfolios from distressed secondary sellers
NEW YORK, Sept. 30, 2020 – Finitive, a financial technology platform providing institutional investors with direct access to alternative lending investments, is pleased to announce that FirePower Capital, a Canadian investor in mid-market private debt and private equity, as well as a provider of M&A advisory services, secured a multi-year capital arrangement from an institutional investor via the Finitive platform. The capital, up to several hundred million, will be deployed in the form of co-investments in FirePower Capital’s recently launched Private Credit loan solution.
FirePower Capital’s Private Credit loan program includes secured term loans to “asset-lite” mid-sized Canadian businesses with capable management teams, strong fundamentals and clear visibility into their future cash flows. The loans will support companies with acquisitions, working capital, bridging financing milestones or other special situations. FirePower may also use the capital to fund distressed companies or to purchase loan portfolios from distressed secondary sellers.
Institutional investors are currently seeking exposure to high-yield corporate term debt issued by Canadian companies. After extensive research and due diligence into the Canadian marketplace, Finitive identified FirePower Capital based on its lending track record and strategy as a highly attractive channel to deliver that exposure.
“FirePower Capital relies on a rigorous, bottom-up fundamental analysis that emphasizes strong cash flow and enterprise-value coverage,” said Jon Barlow, Founder and CEO of Finitive. “That disciplined approach to lending resonated with our investor network.”
“Canadian banks do not always have lending solutions for mid-sized businesses, which is where FirePower’s Private Credit loan program comes in,” said Ilan Jacobson, Founding Partner & CEO of FirePower Capital. “Thanks to Finitive, we were able to quickly connect with investors that are highly interested in this sector, providing the capital to allow us to bring flexible financing solutions to our mid-market clients.”
The Finitive platform matches institutional investors with direct lending opportunities, simplifying the legal, administrative, research, due diligence and closing process for both capital seekers and investors.
Finitive is a financial technology platform providing institutional investors with direct access to alternative lending investments. Through Finitive, institutional investors access a multi-trillion-dollar market that encompasses a broad spectrum of non-bank lending sectors, including specialty finance, online lending, marketplace lending, and private credit funds. Finitive’s originator partners gain efficient access to a global network of investors who are actively allocating to alternative lending. All regulated activities are conducted through North Capital Private Securities, a registered broker-dealer and member FINRA/SIPC. For additional information, please visit Finitive’s website at www.finitive.com.
About FirePower Capital
FirePower Capital is the private capital and M&A advisory firm built for Canada’s entrepreneurs. Its team of 35+ deal professionals helps mid-market businesses complete mission-critical transactions, by advising them or investing in their companies directly. FirePower Capital has offices in Toronto and Montreal. For additional information, please visit FirePower Capital’s website: www.firepowercapital.com
Rhyno Equity Group
Rhyno is a private equity firm that acquires mid-market manufacturing companies in the GTA. Rhyno's partners engaged FirePower to structure the buy-out of a kitchen cabinet maker.