Mikisew Group Increases Investment in JL Filtration with ATB Private Equity Divestiture
Mikisew Further Affirms its Strategic Interest
EDMONTON, AB, July 6, 2023 /CNW/ - Mikisew Group, through its private investment division, has purchased all ATB Private Equity's equity holdings in JL Filtration. With this transaction, Mikisew Group adds to its ownership from the initial transaction struck in 2020 alongside ATB Private Equity, Altos Partners LLC and JL Filtration's management. Mikisew Group now holds majority interest in the business.
JL Filtration is a leading provider of industrial filtration equipment, consumables and services addressing the process optimization and environmental compliance needs of customers across Canada. Headquartered in Edmonton, it services facilities across the country.
"We are excited to build on our partnership with JL Filtration, a company that will help deliver on our strategic goals of industry and geographic diversification," said Mikisew Group CEO Dan Gallagher. "We look forward to working closely with the company's executive leadership team and Altos Partners in taking the business to new heights."
Added Ryan Franco, Managing Director at Altos Partners: "This transaction is a testament to the unique value being unlocked within JL Filtration. It's exciting to more closely align with a leading, sophisticated Indigenous-owned partner to build on what we've been working toward at JL Filtration."
"We see a bright future for JL Filtration, especially with Mikisew's further investment in the company," noted Terry Freeman, head of investments at ATB Private Equity. "With this transaction, we have accomplished our goals on behalf of our stakeholders, and we wish the current investment group further success in the business."
JL Filtration (jlfiltration.com) has been a leading provider of filtration equipment, field services and rentals to Canadian industrial companies since its founding in 1986. Headquartered in Edmonton, it brings a wealth of technical experience to complement its portfolio of carbon, sock and coalescing elements as well as multi-bag and carbon filtration process modules.
Mikisew Group of Companies (mikisewgroup.com) is the economic development arm of the Mikisew Cree First Nation. Mikisew Group is comprised of three main operating entities (wholly owned) with a workforce of about 600 people and 10 limited partnerships, majority owned, servicing the Alberta oil sands in various capacities. The group also has interests in several private investments, including infrastructure and private equity.
With $57.5 billion in assets, ATB Financial (atb.com) is a leading financial institution founded in Alberta with a focus on putting people first. Its success comes from its more than 5,000 team members who deliver an exceptional experience to nearly 800,000 clients in personal and business banking, ATB Wealth Management and ATB Capital Markets businesses. ATB powers possibilities for its clients, communities and beyond.
Established in 2016, ATB Private Equity is dedicated to supporting Alberta-based companies through growth equity and transition capital. As a minority investor in 14 Alberta companies and with $50 million of committed capital, it is focused solely on investing in Alberta-headquartered companies across a diverse range of industries.
SOURCE Mikisew Group
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