Investments

Focus

  • Small cap public & private companies

  • Significant minority and/or control positions

  • Capital structure agnostic

Approach

  • Disciplined

  • Long-term

  • Active

  • Concentrated

Structure

  • Permanent capital to maximize compounding

  • Efficient operating structure

  • Internally managed i.e. no management fees

Team

  • Aligned with shareholders

  • Proven operators

  • Long-term track record
Portfolio Fair Value As at December 31, 2021
Industry Breakdown As at December 31, 2021 of deployed capital in disclosed investments
Portfolio
Listings Type:
16.0% Share of portfolio fair value
As at 2021-12-31
PUBLIC INVESTMENT
16.0% Share of portfolio fair value As at 2021-12-31
12.4% Percent of Company Owned
Invested Since Q1 2020 https://www.hamiltonthorne.com/

Hamilton Thorne Ltd. (“Hamilton Thorne”) is a leading manufacturer and distributor of equipment, precision instruments, consumables and software and services to the global Assisted Reproductive Technologies market. The company is headquartered in Beverly, Massachusetts and has manufacturing operations in the United Kingdom and Germany, with sales and support infrastructure serving over 75 countries.

Sector Healthcare
Sales (Net) US$52 million (2021)
Stock Ticker

TSXV: HTL

Head Office Beverly, MA
Board Representation Marc Robinson
12.0% Share of portfolio fair value
As at 2021-12-31
PUBLIC INVESTMENT
12.0% Share of portfolio fair value As at 2021-12-31
6.1% Percent of Company Owned
Invested Since Q1 2020 https://company.isc.ca

Information Services Corporation (“Information Services”) is a leading provider of registry and information management services and technology for public data and records. The company’s largest segment, the Registry segment, holds the Master Service Agreement to manage the real estate, property and corporate registry in Saskatchewan. The company is headquartered in Regina, Saskatchewan.

Sector Real Estate Services / Infrastructure
Sales (Net) $169 million (2021)
Stock Ticker

TSX: ISV

Head Office Regina, SK
10.6% Share of portfolio fair value
As at 2021-12-31
PUBLIC INVESTMENT
10.6% Share of portfolio fair value As at 2021-12-31
5.9% Percent of Company Owned
Invested Since Q1 2021 https://www.quisitive.com/

Quisitive Technology Solutions (“Quisitive”) is a leading Microsoft solutions provider that helps enterprises move, operate, and innovate in the Microsoft cloud. The company also provides proprietary SaaS solutions such as emPerform and LedgerPay.

Sector Technology
Sales (Net) US$76 million (LTM Sep 30, 2021)
Stock Ticker

TSXV: QUIS

Head Office Toronto, ON
Board Representation Laurie Goldberg
8.8% Share of portfolio fair value
As at 2021-12-31
PUBLIC INVESTMENT
8.8% Share of portfolio fair value As at 2021-12-31
6.9% Percent of Company Owned
Invested Since Q1 2020 http://www.points.com/

Points.com Inc. (“Points”) is the global leading provider of e-commerce and technology solutions to the loyalty industry, connecting loyalty programs, third party brands and consumers across a global transaction platform. The company is headquartered in Toronto, Canada and maintains offices in San Francisco, United States, London, England, Singapore and Dubai.

Sector Technology
Sales (Net) (Gross Profit):US$51 million (2021)
Stock Ticker

TSX: PTS

NASDAQ: PCOM

Head Office Toronto, ON
7.7% Share of portfolio fair value
As at 2021-12-31
PUBLIC INVESTMENT
7.7% Share of portfolio fair value As at 2021-12-31
16.6% Percent of Company Owned
Invested Since Q3 2020 http://www.biosyent.com

BioSyent Inc. ("Biosyent") is a leading specialty pharmaceutical company which sources, acquires or in-licences and further develops pharmaceutical and other healthcare products for sale in Canada and certain international markets. It is the owner of leading OTC iron supplement brand FeraMAX and distributor of other in-licensed pharmaceutical and OTC products.

Sector Healthcare
Sales (Net) $29 million (2021)
Stock Ticker

TSXV: RX

Head Office Mississauga, ON
5.9% Share of portfolio fair value
As at 2021-09-30
PRIVATE INVESTMENT
5.9% Share of portfolio fair value As at 2021-09-30
75.1%* Percent of Company Owned
Invested Since 2021-03-23 https://www.carsondunlop.com/

Carson, Dunlop & Associates Ltd. ("Carson Dunlop") is a leading provider of proprietary technology-enabled education services and software for home inspectors across Canada and the United States, as well as a leading provider of home inspections services in the Greater Toronto Area. Carson Dunlop’s direct to consumer online education business through its private career college is the market share leader in Canada with a growing presence in the United States, and its curriculum is also utilized by third-party colleges and associations. Its home inspection software tools and mobile app, provided on a subscription basis, are used to generate home inspections in over 220,000 homes annually across the United States and Canada. Carson Dunlop was founded in 1978. FAX Capital’s ownership of Carson Dunlop is held through its platform company, which will leverage Carson Dunlop as its foundational asset as it focuses on organic growth initiatives and acquisition opportunities of complementary businesses within property technology, education technology and home services.

 

*based on FAX’s 95.9% ownership of 2794677 Ontario Corp., which holds 78.3% ownership of Carson Dunlop

Sector Real Estate Services / Infrastructure
Head Office Toronto, ON
4.3% Share of portfolio fair value
As at 2021-12-31
PUBLIC INVESTMENT
4.3% Share of portfolio fair value As at 2021-12-31
1.3% Percent of Company Owned
Invested Since Q2 2021 https://www.tecsys.com

Tecsys is a global provider of SaaS supply chain solutions that equip the borderless enterprise for growth. Spanning multiple complex, regulated and high-volume distribution industries, Tecsys delivers dynamic and powerful solutions for warehouse management, distribution and transportation management, supply management at point of use, retail order management, as well as financial management and analytics solutions.

Sector Technology
Sales (Net) $135 million (LTM to Jan. 31, 2022)
Stock Ticker

TSX:TCS

Head Office Montréal, QC
1.3% Share of portfolio fair value
As at 2021-12-31
PUBLIC INVESTMENT
1.3% Share of portfolio fair value As at 2021-12-31
9.4% Percent of Company Owned
Invested Since Q3 2021 https://www.avantelogixx.com/

Avante Logixx Inc. ("Avante Logixx") is a leading provider of technology enabled security solutions to commercial and residential customers that is building a diversified physical security platform through multiple acquisitions and organic growth.

Sector Real Estate Services / Infrastructure
Sales (Net) $97 million (LTM to Sep. 30, 2021)
Stock Ticker

TSXV:XX

Head Office Toronto, ON
Past Investments
public Investment

Owned April 2020 to February 2021
Acquired by Goldman Sachs Merchant Banking

Interested?

If you have an opportunity in mind, please contact us at info@faxcapitalcorp.com. We promise the strictest confidence and will respond to inquiries promptly.