Exchange Income Corporation (TSX:EIF) acquired Northern Mat & Bridge LP from TriWest Capital Partners for approximately CAD 330 million on May 10, 2022. The purchase price of CAD 325 million was funded by the issuance of CAD 35 million of EIC common shares to the vendors and cash in the amount of CAD 290 million that was available from the corporation's credit facility. The shareholders who are active management received the vast majority of the EIC common shares. Corporation issued 863,256 Common Shares to certain unitholders of Northern Mat. In a related transaction, Exchange Income Corporation also acquired Advanced Paramedic Ltd. for CAD 15 million. Key members of the team have entered into long term contracts with common shares escrowed to their management contracts. Exchange Income expects that the Northern Mat acquisition will be accretive by over 10% to both Adjusted Net Earnings per share and Free Cash Flow less Maintenance Capital Expenditures per share. National Bank Inc. acted as financial advisor and MLT Aikins LLP acted as legal counsel to EIC. CIBC Capital Markets acted as TriWest's lead financial adviser and Goldman Sachs acted as co-financial adviser. Legal advice was provided by Burnet, Duckworth & Palmer LLP and tax services were provided by Ernst & Young.

Exchange Income Corporation (TSX:EIF) completed the acquisition from TriWest Capital Partners of Northern Mat & Bridge LP on May 10, 2022.