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GMP Capital to acquire FirstEnergy Capital

Posted on Aug 5, 2016 by in Scarborough | 0 comments

TORONTO — GMP Capital Inc. (TSX: GMP) is buying brokerage firm FirstEnergy Capital Corp. in a deal valued at $98.6 million.

GMP issued a statement Thursday that it was appealing to join forces with a highly respected industry leader that has been part of the “fabric of Canada’s energy culture for nearly a quarter century.”

FirstEnergy was founded in 1993 and has provided advisory and investment services to a broad range of corporate clients across the world.

One of the founders was Calgary financier Brett Wilson who gained fame for his appearances on the CBC reality show “Dragons’ Den.”

FirstEnergy has completed over $63 billion in equity financing transactions in the energy sector since 2008.

The company has 91 employees in its Calgary and London offices.

Toronto-based GMP bills itself as a financial services firm that provides a wide range of financial products and services.

By The Canadian Press

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