Acquisition of Remaining Interest
Industry: Agricultural Products & Services
Company Profile: Sylvite Holdings is an Ontario-based provider of agricultural products and services. Agrium is one of Canada’s largest fertilizer manufacturers.
Cold-Springs Agri-Services was the second largest independent fertilizer distributor in South Western Ontario. Sylvite and Agrium Inc. each owned 25% of Cold Springs Agri-Services.
NewPoint’s Role: We were an advisor to Sylvite Holdings Inc. on the buyout of the 50% they did not own in Cold Springs Agri-Services Ltd.
Acquisition and working capital financing was raised for this buyout by NewPoint.
Transaction Snapshot: Sylvite and Agrium sought to acquire the remaining interest in Cold Springs to increase their respective ownership interests to 50% each.
Subsequently in 1999, NewPoint assisted Sylvite in acquiring Agrium’s interest Cold Springs Agri-Services which contributed to Sylvite’s strategy of increasing its market share in the Ontario market.
