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Mosaic Capital Corporation Completes Acquisition of Mackow Industries
Mosaic Capital Corporation Completes Acquisition of Mackow Industries Mosaic Capit...
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[{"type":"text","content":"\n\n\n\nMosaic Capital Corporation Completes Acquisition of Mackow Industries\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nMosaic Capital Corporation Completes Acquisition of Mackow Industries\nCanada NewsWire\nCALGARY, Aug. 8, 2016\n\n\n\nCALGARY, Aug. 8, 2016 /CNW/ - Mosaic Capital Corporation (\"Mosaic\") (TSX-V Symbols: M and M.PR.A) is pleased to announce that it has successfully completed the acquisition of an 80% interest in the business being carried on by Mackow Industries (\"Mackow\").  The remaining 20% was retained by key management of Mackow. This transaction was previously discussed in Mosaic's August 2, 2016 news release.\n\nFounded in 1984 and based in Winnipeg, Manitoba, Mackow is a manufacturer of precision fabricated metal components.  Mackow's primary market is North American manufacturers of transit buses and highway motor coaches.  Mackow currently has approximately 115 employees. More information about Mackow can be found at www.mackowindustries.com.\n\nMosaic's cost of the acquisition was $29.50 million, subject to typical post-closing adjustments, and was funded through a combination of cash ($22.75 million) and vendor take-back financing ($6.75 million). The vendor take-back financing is to be paid out by Mosaic over a three-year period at a commercial rate of interest.  In addition, there is a two-year earn out provision to be paid to the vendors if the business meets specified targets. \n\nABOUT MOSAIC CAPITAL CORPORATION\n\nMosaic is a Canadian investment company that owns a portfolio of established businesses which span a diverse range of industries and geographies. Mosaic's strategy is to create long-term value for its shareholders through accretive acquisitions, long-term portfolio ownership, sustained cash flows and organic portfolio growth. Mosaic achieves its objectives by maintaining financial discipline, acquiring businesses at attractive valuations, performing extensive acquisition due diligence, utilizing optimal transaction structuring and working closely with subsidiary businesses after acquisition.\n\nNeith...