Who We Are

“PFM was established to provide a home grown solution to the lack of capital available for Saskatchewan businesses, aiming to provide companies with the capital required to execute their strategic goals while adding long-term value to the benefit of all stakeholders. Our experience, combined with rigorous due diligence and monitoring standards, has established a strong track record of investment performance and deal flow focused on growth capital, management buyout and expansion financing transactions. We hold all of our partners and investees in the highest regard and personally invest in all of the funds that we manage. We make it a point to align our interests with those of our partners and are committed to building mutually-beneficial relationships.”

– Randy Beattie, President, PFM Capital Inc.

People

PFM Capital is an employee-owned investment management firm.

Founded in 1989 as a corporate finance company, PFM has been managing private equity and venture capital funds since 1993.

Click here to meet the team

$982

Million in capital raised

30

Years experience

The Numbers tell the story.

Magnifying Glass

Experienced management teams + rigorous due diligence & monitoring standards.

PFM has a strong track record of steady high-quality deal flow and investment management, providing strong returns to the firm’s investors.

2021 Annual Report

Strategy

PFM Capital invests in mid-market businesses, with the objective of achieving long-term capital appreciation. By strategically focusing on both yield and growth, we are able to structure our investments in a way that suits both our investors and our portfolio companies. We use a broad range of securities, from common equity to subordinated debt, which ensures that our investees are able to grow and execute on their business plan without ever impeding the balance sheet.

Growth

Growth

A significant number of our target industries, such as:

  • Industrials + Manufacturing
  • Mining Services
  • Oil & Gas Production
  • Oil & Gas Services

Are growth focused industries that tend to rely on equity injections for expansion opportunities. These opportunities create strong growth in the portfolio company.

Yield

Yield

We build portfolios of private companies that can generate yield for our investors over the life of their investment.

By targeting established mid-market companies in a variety of sectors we are able to take advantage of existing cash flow in those companies to fund distributions to our shareholder, where appropriate.

Our investment portfolio is constantly being targeted toward different sectors to provide yield for our investors.

Results

Investment Activity Since Inception (As at March 31, 2022)

Industrials

Energy (E&P)

Energy (Services & Midstream)

Ag Products & Services

Consumer Discretionary

Special Situations

As at March 31, 2022, PFM had:

Over $1,017 million of capital raised.

Invested $1,026 million in 135 portfolio companies.

Exited 83 companies for $571 million in realized gains.

Our Typical Investment

At PFM we are able to structure our transactions using a variety of instruments and ownership stakes to match the needs of our investee companies. While our flexibility allows us to invest in a wide range of companies and industries our business partners typically exhibit the following attributes:

  • Well aligned experienced management teams,
  • Market segments with growth potential,
  • 5-8 year investment timeframe,
  • A clear identifiable exit opportunity,
  • EBITDA of $2 – $10 MM and/or enterprise value of $10 – $50 MM.

If a company matches our investment criteria we would typically invest $5 – $25 MM in a single financing. We will invest more or less than our typical transaction amount depending on the circumstances of the particular investment opportunity.

Featured Investments

Steel Reef Infrastructure Corp.

Energy

$74.3 million investmentCommon Equity

Steel Reef builds and acquires midstream assets involved in gathering/transportation, processing and storage of petroleum products, with operations primarily focused in Saskatchewan and North Dakota. PFM Capital Inc. was a founding shareholder in Steel Reef, comprising approximately 30% of the initial $66.3 million equity raise in 2013 and has continued to support the company with additional follow-ons in 2014, 2015 and 2019. Since inception, Steel Reef has spent over $975 million to build a cohesive portfolio of high-quality assets secured with long term take-or-pay contracts while focusing on maintaining modest leverage and a consistent dividend payout ratio relative to peers.

Prairie Soil Services

Value-Added Agriculture

$10.3 million investmentCommon Equity + Subordinate Debt

Prairie Soil Services delivers a variety of value-added services to farming operations in the Yorkton/Canora area. In 2015, PFM made a new investment in Prairie Soil Services - backing an existing management team to buyout the original owners of the company. PFM is constantly building out our portfolio of value-added agriculture companies and the investment in Prairie Soil provides PFM with a growth platform into the input management industry.

TAM International LP

Industrials

$10 million investmentCommon Equity

TAM International is a global freight forwarder, focused on providing a full scope of logistics solutions for specialized material around the world. The Company was founded in 2004 and is headquartered in Saskatoon with satellite offices in Whitby, Ontario; Vancouver, British Columbia; Paducah, Kentucky; Chester, England; and New Delhi, India. In December, PFM partnered with the existing senior management team to allow the founding shareholders to exit and the current management shareholders to strategically increase their equity position. PFM’s investment will help position the Company to continue to grow and maintain the highest standards of customer service.

For our full portfolio:

SaskWorks Diversified SaskWorks Resources Apex Investments Apex II Investments Apex III Investments