Carmanah Technologies' Asset Sale to SPX

On February 1, 2019, Carmanah Technologies Corporation ("Carmanah") announced that it had sold the majority of its assets to SPX Corporation (“SPX”) for USD 77 million. The assets sold comprised much of Carmanah’s Signals division, including its Marine Aids-to-Navigation, Airfield Ground Lighting and Aviation Obstruction Lighting businesses.

Alexander Capital was initially retained in 2015 to assist Carmanah in strategic development. We initiated the transaction with SPX and acted as financial advisor to Carmanah over the course of negotiations. A more complete description of the background to the transaction can be found in the NEWS section of the Alexander Capital website, dated December 21, 2018.

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