Vancouver, BC – Dominion Lending Centres (DLC), Canada’s largest mortgage network has agreed to sell a majority 60% interest to FCF Capital, a Calgary-based private investment firm. The transaction ensures that DLC will operate independently and that co-founders Gary Mauris, President and CEO, and Christopher Kayat, Executive Vice President, will continue to lead the day-to-day business and operations of DLC.
“This is a tremendous opportunity for Dominion Lending Centres to continue to provide exceptional mortgage services for Canadians and expand our reach into other growth areas,” says Gary Mauris, President and CEO of Dominion Lending Centres. “We will continue to operate under the DLC group of companies with the same values, principles and operating approach that has made DLC Canada’s number one mortgage company. I’m excited for our organization to join forces with such a dynamic organization as FCF that will benefit our customers, our network of accredited mortgage professionals, our partners and our corporate team. This partnership will allow us to grow as a company in the markets we serve and both Chris and I look forward to leading the next chapter of DLC’s growth and expansion.”
“FCF is delighted that the acquisition of a majority interest in DLC could form FCF’s first investment under its new investment thesis,” says Stephen Reid, President and CEO of FCF Capital. “DLC represents excellence in the mortgage brokerage and leasing industry and our majority interest in it provides our shareholders with an opportunity to participate in this success story. We believe DLC’s highly committed and motivated management team will continue to grow the DLC brand.”
For more transaction and financial highlights of the agreement, please visit http://fcfcapital.ca/investors/news/.
For more information about Dominion Lending Centres visit www.dominionlending.ca.
About Dominion Lending Centres:
Dominion Lending Centres is Canada’s #1 national mortgage company with more than 2,500 Mortgage Professionals spanning the country. Launched in January 2006, DLC quickly grew to fund more than $17 billion in mortgage volume in 2014 – the largest origination volume of any Canadian brokerage. DLC continues to be recognized by PROFIT Magazine as one of Canada’s Fastest-Growing Companies – making the PROFIT HOT 50 list of Emerging Growth Companies (2009 & 2010), PROFIT 200 (2012) and PROFIT 500 (2013 – 2015). DLC and our agents are recognized annually at the CMP Canadian Mortgage Awards – the Oscars of the Canadian mortgage brokering landscape.
About FCF Capital:
FCF is listed on the TSX Venture Exchange as an Investment Issuer (Tier 1) and employs a passive and permanent investment approach. The Corporation has developed an investment approach to create long-term value for its shareholders and partner entrepreneurs (investees) by pursuing majority interest acquisitions of cash flow positive middle-market privately held entities. FCF seeks to win mandates by appealing to the segment of the market which is not aligned with traditional Private Equity control, royalty monetizations or related structures. FCF’s innovative platform offers disproportionate incentives (contractually) for growth in favour of our partner entrepreneurs. This unique platform is designed to appeal to entrepreneurs who believe in the growth of their businesses and who want the added ability to maintain operational control with a long-term and passive partner.
The FCF Shares are listed on the TSX Venture Exchange under the symbol “FCF”.
For more information, visit www.fcfcapital.ca