“Consistently, through active collaboration with their team and extensive network, CAI fully supported the successful growth of Corix.”

Brett Hodson – Founder

We are extremely proud of the Corix investment. We were able to help support and build a leading business in our own backyard in Vancouver, Canada.

Our involvement began in late 2005 when Kinder Morgan announced the acquisition of Terasen Gas. Within Terasen was a division known as Terasen Water & Utility Services (“TWUS”).  Small in size but having delivered nearly 1/3 of Terasen’s EPS growth in 2004, TWUS was a leading distributor of water infrastructure products in Western Canada.  Fortunately, Kinder Morgan viewed the division as non-core to the broader Terasen business.  Kinder Morgan gave TWUS’ founder, Brett Hodson, the opportunity to find a partner to carve it out on favourable terms. Brett and his small team met with 14 prospective financial partners and chose CAI and bcIMC because he wanted partners who shared his vision for the company and who would bring industry experience and relationships to the table. Forty-five days later we had a deal and Corix was born.

From the outset, we felt it was a compelling opportunity as the business hadn’t been well-supported as a part of Terasen and the fundamentals of the business were solid. Once out on its own, with the necessary capital and resources, we believed Corix would flourish. It did.

Over the next seven years, Corix transformed from a regional distributor of water infrastructure products to become an owner and operator of water, wastewater, and energy utilities on military bases, university campuses, and small communities across North America. Strong organic growth coupled with several

Strong organic growth coupled with several targeted acquisitions led to EBITDA more than quadrupling during our ownership. In 2012, after seven fruitful years and following an independent sale process, our involvement culminated with a successful sale of our ownership stake to our partner, bcIMC.