Date: 7/24/2017
Value: US$24 million
On July 24, 2017, Power Survey and Equipment Ltd. (Power Survey) announced that it received US$24 million in a Series A2 funding round. The round was initiated by majority investor EnerTech Capital and Investissement Québec, along with new investors led by Cycle Capital Management, joined by Fonds de solidarité FTQ and BDC Capital. The funding will be used to support company growth, including the PSL acquisition, as well as geographic expansion and new product development.
Power Survey, headquartered in Montreal, Quebec, is a manufacturer of power quality systems.
BLG represented Cycle Capital Management and Fonds de Solidarité FTQ with a team led by Patrice Martin, Calvin Leung and Melissa Azuelos.