H.I.G. Capital Completes Acquisition of 4Refuel
Founded in 1995 and headquartered outside Toronto, Ontario, 4Refuel is led by an experienced management team that has built a leading platform across Canada, with a growing presence in Texas. Serving over 3,000 customers across a diverse range of sectors, 4Refuel provides mobile fueling solutions specializing in direct-to-equipment, on-site refueling, diesel exhaust fluid, and tank monitoring services. The Company delivers approximately one billion liters of fuel annually, through an expansive network of facilities and specialized vehicles. 4Refuel's commitment to exceptional service, safety, and technology has driven strong customer retention and satisfaction.
Matt Kever, Managing Director at H.I.G., said, "4Refuel is a scaled, differentiated, technology-enabled platform operating in a mission-critical segment of the energy value chain. We are excited to partner with Larry and the 4Refuel team to accelerate growth through organic initiatives and strategic acquisitions, while continuing to deliver outstanding service and value to its customers."
Larry Rodo, CEO of 4Refuel, added, "H.I.G. brings deep sector expertise and a proven playbook for value creation. We're excited to continue our mission of delivering best-in-class refueling services, while pursuing new opportunities to serve our customers across Canada and the U.S. We are grateful to our incredible team, who have built 4Refuel into the trusted brand it is today."
Blake, Cassels & Graydon LLP and McDermott Will & Emery LLP served as legal counsel to H.I.G. Capital.
About 4Refuel
4Refuel is a leading Mobile On-Site Refueling (MOR) provider in Canada and Texas. Founded in 1995, 4Refuel pioneered the MOR industry in Canada and has built a growing service network across 27 locations. The Company delivers approximately one billion liters of fuel annually to over 3,000 customers across rail, transportation & logistics, consumer goods, infrastructure, building products, and other critical industries. Through its commitment to safety, customer service, and technology, 4Refuel has become the trusted partner for businesses requiring direct-to-equipment refueling. For more information, please visit 4Refuel.com.
About Finning
Finning is the world's largest Caterpillar dealer, delivering unrivalled service to customers for over 90 years. Headquartered in Surrey, British Columbia, Finning provides Caterpillar equipment, parts, services, and performance solutions in Western Canada, Chile, Argentina, Bolivia, the United Kingdom, and Ireland. For more information, visit finning.com.
About H.I.G. Capital
H.I.G. is a leading global alternative investment firm with $70 billion of capital under management.* Based in Miami, and with offices in Atlanta, Boston, Chicago, Los Angeles, New York, San Francisco, and Stamford in the United States, as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo, Dubai, and Hong Kong, H.I.G. specializes in providing both debt and equity capital to middle market companies, utilizing a flexible and operationally focused/value-added approach:
H.I.G.'s equity funds invest in management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
H.I.G.'s debt funds invest in senior, unitranche, and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.
H.I.G.'s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The Firm's current portfolio includes more than 100 companies with combined sales in excess of $53 billion. For more information, please refer to the H.I.G. website at hig.com.
*Based on total capital raised by H.I.G. Capital and its affiliates.
Contact:
Matt Kever
Managing Director
[email protected]
H.I.G. Capital
1450 Brickell Avenue
31st Floor
Miami, FL 33131
P: 305.379.2322
hig.com
SOURCE H.I.G. Capital
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Canada News.Net
5 hours ago
- Canada News.Net
U.S. stick markets diverge Tuesday, Dow ends 400 points ahead
NEW YORK, New York - Global stock indices closed with divergent performances on Tuesday, as investors weighed corporate earnings, central bank signals, and macroeconomic data. While U.S. blue chips rallied, tech stocks stumbled, and European markets saw uneven trading. Meanwhile, emerging markets in Latin America and the Middle East posted strong gains. Wall Street: Dow Rises 400 Points, Nasdaq Drops 167 Points Canada - TSX Closes 164.79 Points Higher TSX Composite (^GSPTSE): +164.79 (+0.62 percent) to 26,857.11 Europe: DAX Drops, FTSE Edges Higher FTSE 100 (^FTSE): +24.37 (+0.28 percent) to 8,785.33 DAX (^GDAXI): -236.32 (-0.99 percent) to 23,673.29 CAC 40 (^FCHI): -3.32 (-0.04 percent) to 7,662.59 EURO STOXX 50 (^STOXX50E): -20.81 (-0.39 percent) to 5,282.43 BEL 20 (^BFX): +20.76 (+0.46 percent) to 4,496.78 Asia and Pacific: Nikkei Tumbles, Taiwan Outperforms 🌏 Asia and Pacific Nikkei 225 (^N225): 39,986.33 │ -501.06 (-1.24%) (Japan slumps) Hang Seng (^HSI): 24,072.28 │ -211.87 (-0.87%) TWSE (^TWII): 22,553.72 │ +297.70 (+1.34%) (Top gainer) S&P/ASX 200 (^AXJO): 8,541.10 │ -1.20 (-0.01%) All Ordinaries (^AORD): 8,772.00 │ -1.00 (-0.01%) (Australia flat) NZX 50 (^NZ50): 12,734.53 │ +131.71 (+1.05%) (New Zealand jumps) KOSPI (^KS11): 3,089.65 │ +17.95 (+0.58%) Sensex (^BSESN): 83,697.29 │ +90.83 (+0.11%) IDX (^JKSE): 6,915.36 │ -12.32 (-0.18%) KLSE (^KLSE): 1,541.53 │ +8.57 (+0.56%) (Malaysia gains) Middle East & Africa: Strong Gains in Egypt, South Africa EGX 30 (^CASE30): +108.70 (+0.33 percent) to 32,707.20 (Cairo) TA-125 (^ +2.53 (+0.08 percent) to 3,025.03 (Tel Aviv) Top 40 USD (^ +70.87 (+1.32 percent) to 5,439.60 (Johannesburg) Latin America: Argentina's MERVAL Soars Bovespa (^BVSP): +694.84 (+0.50 percent) to 139,549.44 IPC Mexico (^MXX): +362.94 (+0.63 percent) to 57,813.82 MERVAL (^MERV): +36,268.62 (+1.82 percent) to 2,031,093.12 (Best performer globally) Currencies & Global Benchmarks U.S. Dollar Index ( -0.21 (-0.22 percent) to 96.66 Euro Index (^XDE): +0.23 (+0.19 percent) to 118.03 MSCI Europe (^125904-USD-STRD): +2.70 (+0.11 percent) to 2,419.61 Key Takeaways Tech Weighs on Nasdaq: Rising yields hit megacap tech, dragging the index down. Asia Divergence: Taiwan (+1.34%) and NZ (+1.05%) offset Japan's (-1.24%) slump. EM Shine: Argentina's MERVAL (+1.82%) and South Africa (+1.32%) surged.
Cision Canada
5 hours ago
- Cision Canada
GoldMining Options Up to 80% of the Boa Vista Project to Australian Mines Limited for Total Consideration of Up to $7 million
VANCOUVER, BC, July 1, 2025 /CNW/ - GoldMining Inc. (the " Company" or " GoldMining") (TSX: GOLD) (NYSE American: GLDG) is pleased to announce that its wholly-owned subsidiary has entered into a binding term sheet for an earn-in agreement (the " Earn-In Agreement"), pursuant to which, among other things, Australian Mines Limited (ASX:AUZ) (" AUZ") may acquire up to an 80% interest in the Company's Boa Vista Project (" Boa Vista" or the " Project"), located in the Tapajós Gold Province, Pará State, Brazil in consideration for aggregate cash and equity payments of up to $7 million 1, as described below. The Company presently owns an indirect 84.05% interest in the Project and, if the option is exercised in full, will retain a 20% interest at such time. Alastair Still, CEO of GoldMining, commented: "We are pleased to announce this option agreement which positions GoldMining to unlock value from its Boa Vista Project. At the same time, the transaction will allow management to further focus its attention on advancing its key assets, such as the São Jorge Project, where the Company recently announced its largest drilling program to date. Boa Vista is not included within our disclosed global resource estimate, but it does contain numerous exploration targets and, following the full exercise of the proposed options, GoldMining will retain upside to Boa Vista through a retained interest, future staged earn-in and milestone payments and equity in AUZ as they advance the Project. We wish AUZ success with exploration and look forward to potential future benefits for both companies." Key Earn-In Agreement Highlights: Initial Consideration: $55,000 cash payment (non-refundable); and Issuance of ordinary shares of AUZ (" AUZ Shares") valued at AUD$1 million ($884,000), calculated based on a deemed issue price per AUZ Share equal to the twenty-day volume-weighted average price (" VWAP") for AUZ Shares immediately prior to the date of execution of the Earn-In Agreement, to be distributed on a pro rata basis to the Company and the minority holder. First Option: AUZ has 3 years from the date all conditions precedent to the Earn-In Agreement are satisfied to earn the right to a 51% interest in the Project by: Incurring minimum exploration expenditures of $3,978,000 (AUD$4.5 million), inclusive of: Completing a minimum 6,000 metres of diamond core drilling; and Making three annual cash payments to the Company of $250,000. Announcing a JORC-compliant mineral resource estimate of at least 500,000 gold ounces, including at least 250,000 ounces in the measured and indicated categories; and Issuance of AUZ Shares valued at AUD$1 million ($884,000), calculated based on a deemed issue price per AUZ Share equal to the twenty-day VWAP for AUZ Shares immediately prior to the date of notice of exercise of the First Option, to be distributed on a pro rata basis to the Company and the minority holder. Upon satisfying the First Option Conditions AUZ and GoldMining will form a joint venture (51/49 respectively) on industry standard terms with AUZ as the initial operator. Second Option: AUZ may earn a further 19% interest in the Project (to 70%) within 3 years from the date of completion of the first option by: Expending a minimum annual amount of AUD$1 million ($884,000) on exploration and feasibility study activities on the Project, including a minimum of AUD$1 million ($884,000) on environmental baseline studies; and Completing a Feasibility Study containing a JORC and NI 43-101 Mineral Reserve of more than 250,000 ounces of gold. Third Option: AUZ has a further option, exercisable within 90 days from the date of completion of the second option, to earn a further 10% interest in the Project (to 80%) by: At the Company's option, either by granting the Company a shield to dilution out of the joint venture or by paying the Company the third option exercise price (which may be a mix of cash and equity, with a minimum 50% in cash) in an amount equal to the greater of either (i) or (ii): $4,420,000 (AUD$5 million); and the value of the then Mineral Resource at the Project at the time of exercise, calculated as the sum of gold oz contained within the Mineral Resource by multiplying measured resources by AUD$20/oz, indicated resources by AUD$10/oz, and inferred resources (less 300,000 oz) by AUD$2.50/oz 1 Dollar amounts are in Canadian dollars unless noted. AUD converted to CAD at rate of 1 AUD = 0.884 CAD. The Earn-In Agreement is subject to customary conditions applicable to the transactions contemplated therein, including receipt of requisite shareholder approvals of AUZ and stock exchange approvals of the ASX. AUZ intends to call a meeting of shareholders to seek shareholder approval for the Earn-In Agreement. Boa Vista Project The Boa Vista Gold Project is located in the Tapajós Gold District, 350km south of the main regional city Itaituba, southwest Pará State, Brazil (see Figure 1). Access to the Boa Vista Gold Project from the cities of Itaituba or Novo Progresso is via highway BR-163 and artisanal mining roads, or via a 1.5-hour flight in a light aircraft from Itaituba. The Project comprises 3 exploration permits covering an area of approximately 9,201 ha (92 km 2). GoldMining owns 84.05% of the Project with Majestic D&M Holdings, LLC owning the remaining 15.95%. The Boa Vista property is underlain by granites, granodiorites and mafic volcanics. Bedrock surface exposures identify east-west, northwest and northeast striking shear structures containing quartz sulphide veinlets, silica breccia and stock works hosted in sericite and pyrite altered and foliated granite and mafic volcanic rocks. Mineralization at most prospects is considered to be mesothermal in nature, however at some of the prospects, vein textures suggest it may be epithermal style mineralization. Coarse visible gold hosted in silica veined and brecciated rock was first discovered in surface outcrops at the VG1 prospect in 2010. Subsequent soil geochemical surveying has outlined a gold-in-soil anomaly trending to the west-northwest over 2 kilometres in length and up to 350 metres in width. Gold mineralization is associated with sericite, carbonate, silica and pyrite alteration associated with quartz stock work and brecciated granitic and mafic volcanic rocks. Qualified Person Tim Smith, P. Geo., Vice President Exploration of GoldMining, has supervised the preparation of, and verified and approved, all other scientific and technical information herein this news release. Mr. Smith is also a qualified person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (" NI 43-101"). About GoldMining Inc. GoldMining Inc. is a public mineral exploration company focused on acquiring and developing gold assets in the Americas. Through its disciplined acquisition strategy, GoldMining now controls a diversified portfolio of resource-stage gold and gold-copper projects in Canada, the U.S.A., Brazil, Colombia, and Peru. The Company also owns approximately 21.5 million shares of Gold Royalty Corp. (NYSE American: GROY), 9.9 million shares of U.S. GoldMining Inc. (Nasdaq: USGO) and 25.1 million shares of NevGold Corp. (TSXV: NAU). See for additional information. Notice to Readers Technical disclosure regarding the Project has been prepared by the Company in accordance with NI 43-101. NI 43-101 is a rule of the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ from the requirements of the U.S. Securities and Exchange Commission ("SEC") and the scientific and technical information contained in this news release may not be comparable to similar information disclosed by domestic United States companies subject to the SEC's reporting and disclosure requirements. Cautionary Statement on Forward-looking Statements Certain of the information contained in this news release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws ("forward-looking statements"), which involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Forward-looking statements, which are all statements other than statements of historical fact, include, but are not limited to, satisfaction of the conditions to the Earn-In Agreement, timing and receipt of payment of the Option, the exercise of the Option, statements respecting the Company's expectations regarding the Project, and expected work programs and often contain words such as "anticipate", "intend", "plan", "will", "would", estimate", "expect", "believe", "potential" and variations of such terms. Such forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which GoldMining operates, which may prove to be incorrect. Investors are cautioned that forward-looking statements involve risks and uncertainties, including, without limitation: the risk that AUZ may not be able to secure the requisite approvals for the Earn-In Agreement, the inherent risks involved in the exploration and development of mineral properties, fluctuating metal prices, unanticipated costs and expenses, risks related to government and environmental regulation, social, permitting and licensing matters, any inability to complete work programs as expected, the Company's plans with respect to the Project may change as a result of further planning or otherwise, and uncertainties relating to the availability and costs of financing needed in the future. These risks, as well as others, including those set forth in GoldMiningꞌs most recent Annual Information Form and other filings with Canadian securities regulators and the SEC, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that forward-looking statements, or the material factors or assumptions used to develop such forward-looking statements, will prove to be accurate. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities law. SOURCE GoldMining Inc.
Globe and Mail
7 hours ago
- Globe and Mail
The greenback question
The U.S. dollar (USD) has lost about 5% of value relative to the Canadian dollar (CAD) so far this year, while the trade-weighted USD has dropped 9%. All else being equal, that means any U.S.-denominated investments have faced a 5% headwind so far in 2025 for Canadian investors, assuming they're unhedged. This has led to a recurring topic in recent conversations on currency, specifically whether or not to hedge U.S. dollar exposures. This isn't a moot point, as there are many different considerations beyond whether the CAD at 73 cents is going to 75 cents or back down to 70 cents. ] Accurately forecasting where a currency is going to go next is rather challenging. Additionally, for a Canadian's portfolio, there are multiple other considerations when it comes to the question of hedging. USD exposure can have a portfolio diversification benefit, and there are many longer-term trends that should be considered. Below, we share our views on all these aspects and our current thoughts on currency hedging. Portfolio diversification For Canadian investors – who are most of our readers – the USD looks fantastic! The TSX and the Canadian dollar are risk-on assets; both are more sensitive than many others to trends in global economic growth. When growth improves and markets become more risk-on, Canadian equity and currency tend to win. Conversely, when growth slows or recession risks rise, the TSX and CAD tend to fall while the USD rises. Even if you dislike policy coming from America, the USD remains a safe-haven currency. If markets go risk-off, money tends to flow back to America, bidding up the currency. As a result, U.S. dollar exposure often acts as a ballast for Canadian investor portfolios, even more so than bonds. The following chart shows the correlation of various investment vehicles to the TSX. USD exposure carries a negative correlation. Additionally included in the chart is the beta, as this helps demonstrate the size of the relative moves, not just the direction. Again, USD stacks up very well as a diversification tool for Canadian portfolios. These numbers look similar over longer periods as well. So, this could support not hedging, given the diversification benefits. But there are other considerations as well. Long-term trends It's very difficult to put a valuation or fair value on a currency exchange rate. Variations in economic activity and shorter-term interest rates certainly drive exchange rates over subsequent months or quarters. Much longer-term purchasing power parity does play a role, but you've got to look really long-term. If a currency is very cheap in one country compared to another, capital flows and trade will gradually reverse the spread (this happens more reliably with developed nations' currencies). The freer the flow of capital, the faster the process; the more restrictions, the slower it goes. But it is not fast either way. Even after the recent rise in the CAD vs USD so far in 2025, we believe the CAD is still cheap or undervalued. But it has been for most of the past decade, as it was overvalued for the previous decade. These are very long and slow-moving cycles. Taking a really long view, the CAD was a dog during the '90s, the USD was a poor performing currency in the '00s, and then the CAD sucked again in the '10s to 2025 so far. If it's a coin flip as to which currency performs better in the next five or ten years, we might say it is a well-loaded coin in favour of the CAD. But there are likely many moves in both directions during that period, some that align with the potential longer-term trend and some that are countertrend. We believe a long-term trend of a weaker USD and strong CAD might support hedging USD exposure. Near-term factors And then there's the rest of the factors, many factors, driving near-term volatility in exchange rates. The CAD has often been influenced by oil prices, but this relationship was stronger pre-2020 than it has been lately. Conversely, changes in short-term relative yields between Canada and the U.S. have become a larger determinant. A narrowing of the spread between two-year yields has supported the Canadian dollar rebound, as has the spike in oil prices as Middle East conflicts intensify. Add cooling uncertainty on the path of tariffs, halving the quantity of short CAD futures contracts, and a minor 'anti' U.S. theme in markets, and we believe the CAD bounce has many supporting tailwinds. These are all known knowns in the currency world, and likely reflected in the recent weakness in USD and strength in CAD, which rallied from below 70 cents to the current 73-cent level. So, in the near term, it really comes down to what happens next. If we get more clarity on tariffs, we could see more CAD strength. If we see economic data continue to decelerate, we could see USD strength. Or some other aspect could rise up to move exchange rates in a way that surprises everyone. Final thoughts So there you have it: no simple answer to this difficult question. From a portfolio construction perspective, we believe you shouldn't hedge just because you want that diversification benefit. From a likely long-term trend perspective, the USD could weaken, supporting hedging. Near-term factors are noisy. We would only act on these factors when things move too far or too fast. At 73 cents, we are rather ambivalent; it's too high to get us excited about adding any USD currency hedges, but not high enough to entice us to remove any existing hedges. In other words, a lot of words and charts just to say we are rather neutral. Craig Basinger is the Chief Market Strategist at Purpose Investments Inc. and portfolio manager of several Purpose funds, including Purpose Tactical Thematic Fund. Notes and disclaimer Content copyright © 2025 by Purpose Investments Inc. All rights reserved. Reproduction in whole or in part by any means without prior written permission is prohibited. This article first appeared on the ' Market Ethos ' page of the Purpose Investments' website. Used with permission. Charts are sourced from Bloomberg unless otherwise noted. The content of this document is for informational purposes only, and is not being provided in the context of an offering of any securities described herein, nor is it a recommendation or solicitation to buy, hold or sell any security. The information is not investment advice, nor is it tailored to the needs or circumstances of any investor. Information contained in this document is not, and under no circumstances is it to be construed as an offering memorandum, prospectus, advertisement or public offering of securities. No securities commission or similar regulatory authority has reviewed this document and any representation to the contrary is an offence. Information contained in this document is believed to be accurate and reliable, however, we cannot guarantee that it is complete or current at all times. The information provided is subject to change without notice. Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the prospectus before investing. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. Certain statements in this document are forward-looking. Forward-looking statements ('FLS') are statements that are predictive in nature, depend on or refer to future events or conditions, or that include words such as 'may,' 'will,' 'should,' 'could,' 'expect,' 'anticipate,' intend,' 'plan,' 'believe,' 'estimate' or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are by their nature based on numerous assumptions. Although the FLS contained in this document are based upon what Purpose Investments and the portfolio manager believe to be reasonable assumptions, Purpose Investments and the portfolio manager cannot assure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on the FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed, that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise.
