Exchange Income Corporation (TSX:EIF) acquired Crew Training International, Inc. (CTI) for $45 million on December 16, 2021. The purchase price was funded by the issuance of 224,865 of EIC common shares to the vendor and cash in the amount of $38 million that was available from EIC's credit facility. Following the acquisition, Alan Mullen, CTI's Founder and Chief Executive Officer and his executive team will continue to lead CTI. This transaction is accretive for shareholders of EIC. Woodbridge International acted as financial advisor to CTI.

Exchange Income Corporation (TSX:EIF) completed the acquisition of Crew Training International, Inc. (CTI) on December 16, 2021.