Grenville Strategic Royalty (GRC-V) June 9, '14 has completed the purchase of a gross sales royalty from Aquam Corp. (formerly Nu Flow Technologies) for a purchase price of $2-million. In exchange for this advance, Grenville will receive a royalty based on the gross revenue associated with Aquam's infrastructure solutions business within Grenville's targeted 1% - 4% royalty range, subject to certain adjustments.
Aquam Corporation is a San Diego, CA based manufacturer and installer of innovative technologies to rehabilitate the inner infrastructure of deteriorated or failing water piping systems using an array of cured-in-place epoxy pipe lining solutions. Aquam is a world leader in total inside infrastructure clean water solutions for small diameter pipes.
"We are tremendously pleased about our investment in Aquam. Aquam's CEO, Cameron Manners and his team have built a remarkable track record within the pipe restoration market and have very solid growth opportunities", said William (Bill) R. Tharp, Grenville's Chief Executive Officer. "The company services the hyper growth market opportunity of water leakage which is a genuine global problem. Aquam has been very successful at servicing a growing list of high value customers. Great management, technology and market demand - we are very excited to work with Aquam as a partner moving forward."
Cameron Manners, Chief Executive Officer of Aquam, commented: "As a CEO of a growing business, the royalty concept is fantastic as it doesn't come with the burdens associated with debt and has no dilution for founders and existing shareholders. Grenville's funding process was quick and the team was very efficient at getting things across the line."
Aquam represents Grenville's 12th investment since its inception in July, 2013. To date, Grenville has completed approximately $9.2 million in royalty financings across Canada and the US.
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June 2, '14 - NR
Grenville Strategic Royalty Corp. has completed the purchase of a gross sales royalty from Insight Downhole Tools Inc. for a purchase price of $1.25-million, with an option, if agreed upon by both companies, to advance an additional $750,000. In exchange for these advances, Grenville will receive a royalty based on Insight's gross revenues within Grenville's targeted 1-per-cent to 4-per-cent royalty range, subject to certain adjustments.
Insight Downhole Tools Inc. was incorporated in 2010 as a Canadian-controlled private Alberta-based corporation specializing in measurement while drilling products and service. The company provides directional drilling services and engages in the development and commercialization of measurement while drilling (MWD) near bit technology.
"Insight has displayed impressive growth since inception and has established a solid group of employees, all of whom are shareholders -- which is a great way to build a service company in this field," said William (Bill) R. Tharp, Grenville's chief executive officer. "We are excited about our partnership and feel a solid fit with their management team. We are highly confident that Mr. Ryan Richardson, Donny Hall and their team can grow their operation in a sustainable manner and are keen to assist them in doing so."
Ryan Richardson, chief executive officer of Insight, commented: "Grenville's product proved to be a solid fit with our current requirements to grow the business. Their team has been receptive and enjoyable to work with since day one. We are motivated and look forward to working with Grenville to build our company in the future."
Insight represents Grenville's 10th investment since its inception in July, 2013. To date, Grenville has completed approximately $7.2-million in royalty financings across Canada and the United States.
About Insight
Insight Downhole Tools Inc. is a Canadian-controlled private Alberta-based corporation specializing in measurement while drilling products and service. The company provides directional drilling services and engages in the development and commercialization of measurement while drilling (MWD) near bit technology. Insight offers MWD equipment and tools, pulser drivers and directional sensors, and MWD software. The company was incorporated in 2010 and is based out of Calgary with offices throughout Alberta. |
