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Press Release Archive

Meridian Closes Two Financings despite Economic Conditions

News Release – October 27, 2008

Calgary, Alberta

In a month in which world wide financial systems faced some of their greatest challenges in decades, along with major drops in oil and gas prices, Meridian Canada was able to close two transactions with two different Canadian chartered banks and two different subordinated debt lenders for clients in the oil field services sector. Trinity Capital Canada LP, Meridian’s related Fund, also participated in one of these transactions.

“Yes, it’s a bit of a blood bath out there,” commented company President and CEO Keith Turner, “but the Canadian banking system is probably in the best shape in the western world right now, and some institutions are showing the ability to see opportunity in adversity and not act as fair weather friends. Private equity is still available and entrepreneurial capital sources are still open for business if you know how to find them and can present a solid business plan.”

That’s the mantra at Meridian Canada, match the right people with the right money at the right time. “We call that the Meridian Effect. And for the right people, it is always the right time – again, if you have access to capital, and we do.”

As for what the coming months will bring, Ernst and Young 2008 Entrepreneur of the Year finalist Turner added, “I would say that lower interest rates and a falling Canadian dollar will benefit Canadian businesses within the next year, and this will lead to established players getting more and more comfortable again, and some new ones entering the financial markets, who see opportunity.

“However, it has never been more true that the old saying ‘cash is king’ applies, so we do expect to see some declining prices being paid for businesses being sold unless the sellers can demonstrate with some certainty that their business remains largely unaffected by the current conditions,” added Turner.

Certain of the principals and associates of Meridian have in their careers closed over 200 deals involving a purchase or sale of business (mergers and acquisitions) as well as financing many hundreds of other types of transactions. If your company has annual revenues of at least $5 million and you see a capital event, acquisition or sale, or management buy-out on the horizon, contact Meridian Canada via Randy Lennon, Managing Director, at (403) 538 2130 or email randy@meridiancanada.com.

For more information visit www.meridiancanada.com

Or contact Randy Lennon at 403-538-2130