Fraser Mackenzie Merchant Capital portfolio company acquires Utility Pro

On September 10, 2019, Fraser Mackenzie Merchant Capital (“FMMC”), through its portfolio company Vision Utility Services, Inc., acquired the business and assets of Utility Pro, Inc.

FMMC, based in Toronto, Ontario, makes direct investments of $4 - $10 million in cashflowing businesses across many industry sectors. FMMC Buyout Fund focuses on buying equity stakes of 25% to 100%  in privately owned businesses. FMMC Private Yield Fund focuses on making subordinated loans to both private and publicly traded companies.

Vision Utility Services, headquartered in Arkansas, is in the business of installing underground utilities cabling. Utility Pro is also based in Arkansas with operations in a number of other states.

Gowling WLG advised FMMC with respect to this acquisition with a team that included Nurhan Aycan, Marcus Hinkley and Howard Xin (corporate) and Lisa MacDonnell (lending), with Richard Raymer and Gina Betts of Dorsey & Whitney LLP advising on US aspects of the deal.