Post says Ballard gearing up for acquisitions
Monday January 18 2021 - In the News
The Financial Post reports in its Saturday edition that Ballard Power Systems may add debt to its balance sheet for the first time in years for acquisitions given current cheap financing costs. A Bloomberg dispatch to the Post quotes chief financial officer Tony Guglielmin saying: "If we go into the market again to raise more capital, particularly for an M&A opportunity, absolutely the debt markets would be something we would prioritize. Because we fit squarely in the green area, we could access that market and it's very attractive right now in terms of pricing." Ballard Power, which provides fuel cells for buses, commercial trucks, trains, marine vessels, passenger cars and forklifts, gets over 95 per cent of its revenues in North America, Europe and China. The Vancouver-area firm, which last year raised $700-million (U.S.) in the equity markets, is looking for potential acquisitions mostly in Europe, where there are "handful of very strong companies," Mr. Guglielmin said. "We do have a very active pipeline and we're looking at a number of M&A opportunities," he said, adding that around $150-million (U.S.) of the money raised last year will finance operations before the company reaches cash-flow break-even.
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