Business
Mosaic Capital Corporation Enters into Agreement to Acquire Industrial Scaffold Services
Mosaic Capital Corporation Enters into Agreement to Acquire Industrial Scaffold Services Cal...
About this update from Myriad Uranium Corp
[{"type":"text","content":"Mosaic Capital Corporation Enters into Agreement to Acquire Industrial Scaffold ServicesMosaic Capital Corporation Enters into Agreement to Acquire Industrial Scaffold Services\nCalgary, Alberta CANADA, August 30, 2013 /FSC/ - Mosaic Capital Corporation  (TSX-V Symbols: M and M.PR.A), (\"Mosaic\")is pleased to announce that it has entered into an acquisition agreement to acquire a majority interest in the business being carried on by Industrial Scaffold Services Limited (\"Industrial Scaffold\").  Industrial Scaffold is a leading provider of worksite surface and access scaffolding solutions to industrial and commercial customers in the energy & utilities, pulp & paper, mining and marine sectors in western Canada. Industrial Scaffold is based in Crofton, B.C. and has offices in Fort St. John, Kitimat and Victoria.  On completion of the transaction Mosaic will own 67.5% of the business and members of management will own the remaining 32.5%. Mosaic's cost of acquisition is $15,862,500 and will be funded through a combination of cash and $3.0 million of vendor take back financing. The acquisition is expected to be immediately accretive to Mosaic's free cash flow and distributable cash per common share. The transaction is expected to close in early September 2013.\nEstablished in 2002, Industrial \nScaffold(www.industrialscaffoldservices.ca)is a preferred worksite surface and access scaffold provider for numerous industrial projects within western Canada, providing both scaffolding services and environmental containment services (which is the wrapping of structures such as buildings, industrial infrastructure, ships, and submarines). Industrial Scaffold's commitment to safety, excellent customer service and the provision of highly qualified field supervisory personnel are key elements which keep it at the forefront of its industry.\nAlvin Brown, President of Industrial Scaffold stated, \"Since inception our focus has been on being a leader in our industry. We ensure that each client's project is executed safely and to the highest level of quality using a highly trained and qualified workforce.  We have a number of customers that have been with us for over 10 years due to our high level of service and understanding of their business. Our partnership with Mosaic will allow us to move quic...