PFM Capital Maintains Strong Investment Momentum
Since the second quarter of 2025, PFM Capital and its managed funds have completed four investments across the industrial, manufacturing, and energy sectors. These transactions reflect the firm’s continued focus on partnering with market-leading businesses supported by strong management teams, defensible market positions, and attractive long-term growth opportunities. They also demonstrate PFM’s ability to execute across a range of transaction structures, including majority acquisitions, co-investments alongside institutional partners, and an attractive secondary-market opportunity.
In the second quarter of 2025, Apex IV acquired a majority interest in VAW Systems Ltd., a Winnipeg-based manufacturer of engineered noise control solutions serving industrial, commercial, and energy markets worldwide.
In Q3 2025, Apex IV acquired Weldco Heavy Industries, a specialized steel fabrication and repair provider supporting Alberta’s oil sands from its operations in Fort McKay.
In early 2026, Apex IV opportunistically added Spur Petroleum to its portfolio through a secondary-market transaction, providing exposure to one of North America’s most economic oil plays.
Most recently, PFM Capital partnered with BDC Growth Equity Partners and BMO Capital Partners to acquire West Coast Machinery Inc., a Canadian manufacturer and distributor serving the construction, mining, forestry, and municipal sectors across North America.
“These investments reflect the breadth of opportunities we continue to identify across Western Canada and our ability to structure transactions that meet the expectations of our limited partners and the needs of business owners, management teams, and investment partners.” — Jeff Linner, Chief Investment Officer.
As the firm prepares for its next fundraising cycle, PFM remains focused on deploying capital alongside experienced management teams and supporting businesses through their next stages of growth.
