Canadian low-cost wireless carrier BMV Holdings has announced that Omers Private Equity, the private equity arm of the Ontario municipal government pension scheme, has signed an agreeme
Canadian low-cost wireless carrier BMV Holdings has announced that Omers Private Equity, the private equity arm of the Ontario municipal government pension scheme, has signed an agreement to invest up to CAD50m in the business.
BMV will launch value-priced wireless services in specific markets in Ontario and Quebec during the third quarter of this year.
Paul Renaud, president and chief executive officer of Omers Private Equity, says: ‘BMV and its investors made an astute purchase in Industry Canada’s wireless spectrum auction last summer and we believe the company has great potential in the Canadian wireless market. In addition, we are impressed by the leadership and experience of their management team and investment partners’.
Alek Krstajic, BMV’s chief executive officer, says: ‘There are few investors in Canada that can bring the scale and level of sophistication that Omers Private Equity offers through its investment in BMV.’
Krstajic says the investment makes the Omers pension fund one of the largest investors in the company.
BMV was created in July following its purchase in Industry Canada’s wireless spectrum auction of PCS G Band covering almost 19 million Canadians in the Windsor to Quebec City corridor across Ontario and Quebec.
