F1 Fund achieves 3x equity return on sale of Link Energy
Jul 22, 2020 -
2 Min read
Montreal, June 29, 2020 — Tactex F1 Private Equity Fund LP (“F1 Fund”) announced the sale of its equity investment in Link Energy Supply Inc. (“Link Energy”) to Dominion New Energy Inc. (“DNE”).
“We are very proud to have played a part in Link Energy’s success. Seven years ago, we put up the money and the Link team put up the expertise, ideas and hard work. Link Energy has gone from startup to $44 million in annual revenue, and is now a major player in the Western Canadian energy market. As our era comes to an end, we are very pleased that the company is in great hands of a solid executive team, and led by an experienced board. We are very pleased to have played a part in in an amazing story” said Rick Ness, previous board member at Link Energy and partner at Tactico Inc.
The sale generated a 3x multiple return on equity for the F1 Fund’s portfolio company, utilizing Link Energy’s growth, demonstrated experience with sales, and deal structure.
“Tactex F1 PE Fund provided the critical startup capital to help turn the dream of Link Energy into a reality. Our ambition to create a retail energy brand that leaves customers wowed by the quality of the service experience and also feeling good about the positive social and environmental impact they achieved just by choosing Link is a reality today in part thanks to the expertise and support of the Tactex F1 PE Fund and their BOD representative Rick Ness. We are happy to see a successful exit for the Tactex F1 PE Fund unit holders and to also see such significant reinvestment from the founders and management of the company” said Wayne Burke, CEO and Co-Founder of Link Energy.
About Link Energy Supply Inc.
Link Energy Supply Inc. (“Link Energy”) is a retail energy supplier that markets and sells natural gas and electricity to industrial, commercial and residential users in various deregulated markets in North America. Link Energy provides its clients with the ability to better manage their energy costs and risk. Link Energy’s principals have been building and operating quality focused businesses in the retail energy industry for over a decade now.
About Tactex F1 Private Equity Fund
The Tactex F1 Private Equity Fund is an investment fund established in 2013 that focuses on direct investments in cash flow positive small-cap entities or start-up firms through a combination of debt, preferred shares and-or common shares. The fund provides close support to management of its portfolio investments and is available only to select qualifying investors. The F1 Private Equity Fund is managed by Tactex Asset Management Inc. as general partner of the fund.
About Tactico Inc.
Tactico is a hands-on venture capital firm specializing in implementing strategic and tactical solutions for curated, early-stage investments. Along with providing capital, Tactico’s partners get involved in helping business stakeholders establish the future strategic direction of the company. Its leadership team has extensive experience building and operating successful businesses and navigating dynamic corporate climates. Tactico has broken down the barriers so that accredited investors have the opportunity to invest alongside us through targeted special purpose vehicles (SPVs).