TORONTO, Sept. 18 /CNW/ - Wellington Financial LP, a privately held
specialty finance firm, today announced a follow-on $4 million financing
commitment to Vision Critical Communications Inc. ("Vision Critical"). The
initial $3 million venture debt financing closed October 24, 2006. An
additional $4 million in equity was raised in early 2007. This latest
financing will further accelerate the company's growth strategy including
advancing its full-service strategic market research consultancy business
through Angus Reid Strategies.
"Today's investment builds on a year-long relationship between Wellington
Financial and one of the most respected market researchers in Canada. Angus
Reid and his team have demonstrated that online panels and interactive survey
environments are the way of the future in the North American market research
industry. We are pleased to have the opportunity to provide the additional
True Growth Capital required by the Company to continue building their
business," said Mark McQueen, President and Chief Executive Officer of
Wellington Financial. "This latest financing will ensure that Angus and the
team have the cost-effective growth capital they need to serve many of the
most sought-after market research clients on the continent."
Founded in 2000, Vision Critical develops and operates software and tools
that are used to help companies recruit, engage and learn more from their
customer advisory panels. Its Panel+ platform enables self-serve polling and
surveying by Global 5000 companies using their own panels. Vision Critical's
Fusion suite is a group of rich media applications including interactive
visualizations, streaming video and 3D virtual environments, which aid in
increasing participation rates by providing new, unique ways of extracting
information and opinions from consumers.
"Wellington Financial understands our business and the needs of an
entrepreneurial culture," said Angus Reid, CEO of Vision Critical. "We are
delighted in the confidence they have shown in our company."
Vision Critical in conjunction with Angus Reid Strategies, is
headquartered in Vancouver with additional offices in Toronto, Montreal and
Calgary. Vision Critical currently employs approximately 170 individuals and
continues to grow its market research team.
Chaitons LLP provided legal advice for this transaction.
Wellington Financial LP is currently managing a $400 million investment
program via Wellington Financial Fund III. Since inception, Wellington
Financial LP has led or participated in more than $215 million of
transactions, making it one of the most active funds of its kind in Canada.
About Wellington Financial LP
Wellington Financial LP is a privately held specialty finance firm
providing operating lines of credit, term, venture and amortizing loans up to
$40 million. Wellington Financial LP is currently deploying a $400 million
investment program via its third fund. The fund's clients vary in size and
business model, but generally have current year revenue of approximately $5
million. Wellington Financial LP is managed by a partnership controlled by
fund management and Clairvest Group Inc. (CVG:TSX), who jointly have
contributed a large financial stake to Fund III. Limited partners include
several of Canada's largest institutional investors, crown corporations,
financial institutions and pension funds. Please visit the fund website at
www.wellingtonfund.com, or the Wellington Financial team blog at
For further information:
For further information: Amy Olah, Marketing Manager, Wellington
Financial LP, Tel: (416) 682-6002, email@example.com