Fengate announces equity investment in Inflector Environmental Services, a Canadian leader in hazardous material abatement and remediation services
Toronto, ON – September 8, 2022 – Fengate Private Equity (“Fengate”), a division of Fengate Asset Management, on behalf of the LiUNA Pension Fund of Central and Eastern Canada (“LPFCEC”), has completed a strategic minority equity investment in Inflector Environmental Services (“Inflector”), one of Canada’s leading environmental services providers specializing in mission-critical, hazardous material abatement and remediation. Inflector’s management and existing shareholders will continue to retain a majority equity interest in the company, and certain key employees will also become shareholders.
“We are incredibly excited to announce this important milestone in our company’s evolution,” said Jeffrey W. Clarke, President and CEO of Inflector Environmental Services. “Our new institutional partners share our vision that investing in our employees will allow for the long-term success of our business, and we look forward to broadening our geographic footprint and expanding our service offering through this new strategic partnership.”
As greater emphasis is placed on health and safety within the built environment, strict regulations necessitate the continual demand for Inflector’s abatement-focused, essential services focused on the management of hazardous materials.
“LiUNA is proud to support companies that provide vital environmental services in Canada,” said Joseph Mancinelli, Chair of LPFCEC, LiUNA International Vice President and Regional Manager for Central and Eastern Canada. “Our partnership with Inflector is rooted in a shared alignment and commitment to keeping both workers and workplaces safe from possible hazardous exposures.”
“On behalf of our investors, Fengate is delighted to partner with Inflector, and support its management team on the company’s next stage of strategic growth,” said Justin Catalano, Managing Director and Group Head of Fengate Private Equity. ” Already a proven industry leader, Inflector is well positioned as a growth platform within an attractive subset of the environmental services sector.”
Inflector recently acquired Halifax-based EnviroBate Inc., a leading provider of environmental remediation services, increasing Inflector’s presence in the Atlantic Canada region. Fengate’s equity investment will be used to further support Inflector’s pipeline of both organic as well as M&A focused growth opportunities.
About LiUNA Pension Fund of Central and Eastern Canada
Established in 1972, the LiUNA Pension Fund of Central and Eastern Canada (LPFCEC) is one of the fastest growing multi-employer pension funds across Canada, voted top 10 pension funds by Benefits Canada. With a diverse investment portfolio and $10 billion in assets, LPFCEC has yielded positive returns for the plan, great work opportunities for LiUNA members, and has created many needed institutions across North America through a broad range of alternative investments. Learn more at lpfcec.org.
About Fengate Asset Management
Fengate is a leading alternative investment manager, with more than $6 billion of capital commitments under management, focused on infrastructure, private equity, and real estate strategies. With offices in Toronto and Oakville, Ontario, and Houston, Texas, Fengate leverages more than 45 years of entrepreneurial experience to deliver excellent investment results on behalf of its clients. Fengate Private Equity, a division of Fengate Asset Management, is a differentiated investment platform supporting the growth ambitions of entrepreneurs through transformative capital. Learn more at fengate.com.