Horizon North Logistics closes transaction with Dexterra
On May 29, 2020, Horizon North Logistics Inc. ("Horizon North") announced the completion of its previously announced transaction with 10647802 Canada Limited, operating as Dexterra Integrated Facilities Management ("Dexterra"), to combine and create a leading Canadian support services company.
Under the terms of a share purchase agreement signed March 9, 2020, Horizon North acquired all of the outstanding common shares of Dexterra and in exchange issued 158,929,967 common shares to Dexterra's sole shareholder, 9477179 Canada Inc. ("Dexterra Parent"), a wholly-owned subsidiary of Fairfax Financial. Accordingly, Fairfax Financial now controls a 49% interest in the newly combined company, while existing Horizon North shareholders maintain a 51% interest.
Prior to the transaction, Fairfax Financial had no ownership interest in Horizon North.
Further information can be found on PR Newswire's website.
Dexterra provides quality solutions for ongoing maintenance and operations to clients in the aviation, defence & security, retail, commercial, private industry, healthcare, education and government sectors
Horizon North operates a pan-Canadian support services platform across eleven provinces and territories and diversified end markets.
Fairfax Financial is a holding company incorporated under the laws of Canada which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and the associated investment management.