Fort Capital Partners is pleased to announce that Armstrong Hospitality Group Ltd., the parent company that owns and operates Rocky Mountaineer, has secured a long-term financing package with Sagard Credit Partners (“Sagard”) to strengthen the financial foundation of the company. With this new agreement in place, Rocky Mountaineer is better positioned to both recover from the impact of the pandemic and achieve its future growth plans.
Sagard is a multi-strategy alternative asset manager with operations in Canada, the U.S. and Europe. The debt financing is comprised of two tranches, which provide the flexibility needed as the Rocky Mountaineer business continues to navigate external uncertainties, as well as ensures the necessary capital for anticipated growth.
“We are immensely grateful to the Sagard team for this credit facility and their belief in Rocky Mountaineer. This new partnership will not only allow the business to fully recover from the deep impact of the pandemic, but it also enables the team to achieve our ambitious growth plans,” said Tristan Armstrong, President of Armstrong Group. “We look forward to building on the momentum the business is currently experiencing to evolve from being a Canadian tourism leader into a global leader in exceptional tourism experiences. This goal is far closer to being a reality with the investment, leadership, and expertise of Sagard.”
Fort Capital Partners acted as Credit Advisor to Rocky Mountaineer on refinancing the credit facilities.