Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Black Diamond Group Limited (BDI-T) announced that it has acquired Spectrum Building Systems, Inc. and Spectrum Leasing, LLC through its U.S. subsidiary doing business as BOXX Modular.
Spectrum is a privately owned supplier of modular buildings and turnkey modular solutions headquartered in Gainesville, Georgia.
“This acquisition is consistent with our long term growth strategy and, when combined with the existing BOXX Modular assets in the region, gives Black Diamond a fleet of over 400 units in the Southeast region," stated Trevor Haynes, Black Diamond’s CEO.
Currency Exchange International, Corp. (CXI-T) reported that its revenues increased 12 per cent to $11.5-million for the three-month period ended Oct. 31 versus the same quarter last year. Net income decreased to just under $800,000 compared to $1-million for the year-ago period.
Summit Industrial Income REIT (SMU.UN-T) announced that it will acquire the Cochrane Business Park, a six-building light industrial campus located in Markham, Ont. for $45.15-million. “We are very pleased to be acquiring this modern industrial park with a prime location in an established GTA [Greater Toronto Area] industrial node. The buildings contain very functional, highly-leasable space and have been well maintained to an institutional standard,” stated CEO Paul Dykeman. “This acquisition is an excellent example of how we are accretively building scale in the GTA, Canada’s largest and strongest industrial market.”