Latest news with #Finning
Toronto Star
15 hours ago
- Business
- Toronto Star
Finning to report Q2 2025 results on August 5 and hold investor call on August 6, 2025
VANCOUVER, British Columbia, July 22, 2025 (GLOBE NEWSWIRE) — Finning International Inc. (TSX: FTT) ('Finning') will report Q2 2025 results on August 5, 2025 after markets close and hold the investor call on August 6, 2025 at 10:00 AM Eastern Time. To access the investor call, please dial 1-833-752-3398 (Canada and US toll free) or 1-647-846-2852 (international toll). The investor call will be webcast live and archived for three months. Please visit our website to access the webcast and accompanying presentation.
Cision Canada
01-07-2025
- Business
- Cision Canada
H.I.G. Capital Completes Acquisition of 4Refuel
MIAMI, July 1, 2025 /CNW/ -- H.I.G. Capital ("H.I.G."), a leading global alternative investment firm with $70 billion of capital under management, is pleased to announce that one of its affiliates has completed the acquisition of 4Refuel ("4Refuel" or the "Company"), a market leader in Mobile On-Site Refueling (MOR) services, from Finning International Inc. (TSX: FTT). The total purchase price of the transaction is up to CAD 400 million. 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 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 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 *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 SOURCE H.I.G. Capital
Business Upturn
30-06-2025
- Business
- Business Upturn
Finning completes the sale of 4Refuel and ComTech
By GlobeNewswire Published on July 1, 2025, 01:58 IST VANCOUVER, British Columbia, June 30, 2025 (GLOBE NEWSWIRE) — Finning International Inc. (TSX: FTT) ('Finning' or the 'Company' or 'we', 'our' or 'us') announced today that we have successfully completed the previously announced sale of 100% of our mobile on-site refueling business, operating through our subsidiaries 4Refuel Holdings Limited, Midnight Holding, Inc., and their respective affiliates (collectively '4Refuel'), to affiliates of H.I.G. Capital ('H.I.G.'). In addition, on May 15, 2025, Finning and the other shareholders of Compression Technology Corporation ('ComTech') closed the previously announced sale of ComTech to a third party. 'We are pleased to have completed the sale of 4Refuel and ComTech and wish the teams continued growth and success in the future,' said Kevin Parkes, President and CEO of Finning International. 'These transactions represent another important step in executing our strategy to simplify our business and focus on our core dealership operations, unlocking invested capital, and increasing pro-forma return on invested capital.' Finning's second quarter results will include ComTech, until May 15th, and 4Refuel for the full quarter, all presented in discontinued operations. About Finning Finning is the world's largest Caterpillar dealer, delivering unrivalled service to customers for over 90 years. Headquartered in Surrey, British Columbia, we provide Caterpillar equipment, parts, services, and performance solutions in Western Canada, Chile, Argentina, Bolivia, the United Kingdom, and Ireland. Contact InformationNeil McCannVP Finance, Capital Markets and Corporate Development [email protected] Forward-Looking Information Disclaimer This news release contains information that is forward-looking. Information is forward-looking when we use what we know and expect today to give information about the future. All forward-looking information in this news release is subject to this disclaimer including the assumptions and material risk factors referred to below. Forward-looking information in this news release includes, but is not limited to, the following: our belief that the sales of 4Refuel and ComTech are another important step in executing our strategy to simplify our business and focus on our core dealership operations, unlock invested capital and increase pro-forma return on invested capital. All such forward-looking statements are made pursuant to the 'safe harbour' provisions of applicable Canadian securities laws. Unless we indicate otherwise, forward-looking information in this news release reflects our expectations at the date of this news release. Except as may be required by Canadian securities laws, we do not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise. Forward-looking information, by its very nature, is subject to numerous risks and uncertainties and is based on a number of assumptions. This gives rise to the possibility that actual results could differ materially from the expectations expressed in or implied by such forward-looking information and that our business outlook, objectives, plans, strategic priorities and other information that is not historical fact may not be achieved. As a result, we cannot guarantee that any forward-looking information will materialize. Forward-looking information is provided in this news release to give information about our current expectations and plans and allow investors and others to get a better understanding of our operating environment. However, readers are cautioned that it may not be appropriate to use such forward-looking information for any other purpose. Forward-looking statements made in this news release are based on a number of assumptions that Finning believed were reasonable on the day Finning made the forward-looking statements. Some of the assumptions, risks, and other factors, which could cause results to differ materially from those expressed in the forward-looking information contained in this news release, are discussed in our current Annual Information Form (AIF) and in our annual MD&A for the financial risks. We caution readers that the risks described in the annual MD&A and in the AIF are not the only ones that could impact us. Additional risks and uncertainties not currently known to us or that are currently deemed to be immaterial may also have a material adverse effect on our business, financial condition, or results of operation. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Mint
23-06-2025
- Business
- Mint
Scotiabank Hires Finning's Former CFO as Canadian Banking COO
(Bloomberg) -- Bank of Nova Scotia hired Greg Palaschuk, the former top finance executive at Finning International Inc., for a senior role in its Canadian banking division. Scotiabank told employees he'll assume the role of executive vice president and chief operating officer of its Canadian banking division later this year. Finning announced Palaschuk's departure as chief financial officer on June 12. 'He will oversee all Canadian banking operations activities, and he will also provide managerial oversight for automotive finance in Canada as we look to continue to grow and evolve the business,' Scotiabank spokeswoman Katie Raskina said in an email. As Finning's CFO since 2020, Palaschuk overlapped in the firm's executive suite with Scott Thomson, now Scotiabank's chief executive officer. Thomson was CEO of Finning — a Vancouver-based company that sells, finances and services Caterpillar Inc. equipment — for almost a decade before joining Scotiabank as president in late 2022, in preparation for becoming CEO in early 2023. Thomson had been on Scotiabank's board since 2016, but the hiring of a banking outsider was still seen as a surprising move at the time. Palaschuk, who will report to Aris Bogdaneris, head of Scotiabank's Canadian banking division, has a history in the finance industry, having spent the early years of his career in investment banking with Deutsche Bank AG and UBS Group AG in New York and later with Goldman Sachs Group Inc. in Calgary. He's set to remain with Finning as an adviser through July to support the transition to new CFO David Primrose. David Noel, Scotiabank's current COO of Canadian banking, will remain in that role until Palaschuk joins the firm on Sept. 2, Bogdaneris said in an internal memo seen by Bloomberg News. Noel will then become senior vice president of Canadian banking operations, reporting to Palaschuk. --With assistance from Mathieu Dion. More stories like this are available on
Hamilton Spectator
14-05-2025
- Business
- Hamilton Spectator
Finning Reports on Voting Results from its Annual Meeting of Shareholders
VANCOUVER, British Columbia, May 14, 2025 (GLOBE NEWSWIRE) — Finning International Inc. (TSX: FTT) ('Finning' or the 'Company') announces the voting results from its Annual Meeting of Shareholders held on Tuesday, May 13, 2025 in Vancouver, British Columbia. A total of 97,159,486 common shares were represented at the Meeting, representing 72.07% of the Company's outstanding shares as at the record date. Shareholders voted in favor of all items of business before the Meeting, including the appointment of auditors with authorization of the directors to fix the auditors' remuneration, acceptance of the Company's approach to executive compensation, and the election of each of the directors. Detailed results of the ballot vote for the election of directors are provided below: About Finning Finning International is the world's largest Caterpillar dealer, delivering unrivalled service to customers for over 90 years. Headquartered in Surrey, British Columbia, we provide Caterpillar equipment, parts, services, and performance solutions in Western Canada, Chile, Argentina, Bolivia, the United Kingdom, and Ireland. Contact Information: FinningIR@
