On January 10, 2017, Canadian investment company Mosaic Capital Corporation (TSXV: M, M.PR.A and M.DB) announced that Secon Holdings LP (“Secon”), a 75% subsidiary of Mosaic, had successfully completed the acquisition of a 70% interest in the business carried on by Tundra Mechanical and Millwrighting Ltd.
Tundra provides mechanical and millwrighting services to a broad range of industries, including water treatment, waste management and agriculture. Representative customer segments have included feed mills, process mills and seed cleaning and storage companies. While Tundra performs complimentary and similar services to Secon, this acquisition will allow Secon to access a different segment of the growing Saskatchewan market.
Secon is a multi-trade industrial and commercial construction company, primarily servicing the potash mining and milling industry in all phases of underground and surface construction and maintenance. Secon has also worked on construction and infrastructure projects related to power generation, coal mining and crushing, fertilizer production and oilseed crushing.
Miller Thomson advised Tundra in this transaction with a team that included Grant Bryden and Sean Bryden.