On July 14, 2022, Toronto-based Lynx Equity recently acquired Granite Electric, one of Alberta's leading electrical contractors specializing in fiber optics installation and focusing on telecommunication infrastructure. The transaction's value, however, was not disclosed.

Granite Electric's founder, Christopher Troy, expressed his satisfaction with the acquisition, highlighting Lynx Equity's capability to exceed his expectations for the company's future. He referred to the acquisition as the perfect outcome and a pivotal step for Granite Electric's potential growth.

Lynx Equity's M&A Associate, Mujtaba Abidi, praised Granite Electric as an excellent addition to their portfolio, emphasizing the company's status as an essential service provider in a robust global telecommunication sector. He also commended the impressive team and business established by Chris.

Legal and financial advisors played significant roles in this transaction. Minden Gross acted as legal counsel for Lynx Equity, while Deloitte Canada provided accounting services. Additionally, BDC Capital’s Growth and Transition Capital division was instrumental in providing acquisition financing.

This acquisition signifies a strategic expansion for Lynx Equity, showcasing their focus on acquiring companies that are leaders in essential services within strong sectors like telecommunications.