August 2021 – Osprey Capital Partners Inc. is pleased to announce that on August 5th, 2021, 2356430 Alberta Inc., a company controlled by MCC Holdings Ltd. (“MCC Holdings”) and certain affiliates of Fairfax Financial Holdings Limited (collectively, “Fairfax”), successfully completed the acquisition of Mosaic Capital Corporation (TSXV: M) (TSXV: M.DB). Osprey Capital acted as exclusive financial advisor to MCC Holdings.

The transaction was completed through a statutory plan of arrangement under the Business Corporations Act (Alberta), which was overwhelmingly approved on July 29, 2021, by Mosaic shareholders. 2356430 Alberta Inc. acquired all of the outstanding common shares of Mosaic for $5.50 per share in cash for a consolidated enterprise value (inclusive of debt) of approximately $277.3 million. The common shares and the debentures were delisted from the TSX Venture Exchange effective as of the close of trading on August 5, 2021.

John Mottola, Managing Partner at Osprey Capital, said, “This deal was one where long-standing relationships with both MCC Holdings and Mosaic contributed to the efficiency of the confidential process and the success of the transaction. Structured as a private company, the portfolio of businesses have now been positioned for future success.”

Osprey Capital Partners Inc. acted as financial advisor to MCC Holdings. Fillmore Riley LLP acted as legal counsel to MCC Holdings. MNP acted as accounting advisors to MCC Holdings. Torys LLP acted as legal counsel to Fairfax. Farris LLP acted as legal counsel to the Special Committee and to Mosaic. Evans & Evans, Inc. provided the Special Committee and the Mosaic Board of Directors with a fairness opinion in respect of the transaction.

About Fairfax Financial Holdings Limited

Fairfax Financial Holdings Limited is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and the associated investment management.

About MCC Holdings Limited

MCC Holdings is a private company that owns, directly or indirectly, a number of private businesses throughout Canada and the United States.

About Mosaic Capital Corporation

Mosaic is a Canadian investment company that owns a portfolio of established businesses which span a diverse range of industries and geographies. Its strategy is to create long-term value for its shareholders through accretive acquisitions, long-term portfolio ownership, sustained cash flows and organic portfolio growth.

About Osprey Capital Partners

Founded in 1998, Osprey Capital has established itself as one of Canada’s leading independent mid-market investment banking and financial advisory firms. Osprey offers a range of advisory services focused on the execution of merger, acquisition, business sale, and finance transactions. Osprey Capital’s success in servicing clients’ M&A and financing requirements is a result of its understanding of the unique needs of mid-market companies and their shareholders and its strong relationships with industry players including strategic acquirers, Canadian & international private equity funds, institutional investors, lenders and banks.