TORONTO, ONTARIO–(Marketwired – November 7, 2013) – Difference Capital Financial Inc. (“DCF”) (TSX:DCF), a leading specialty financial services company, is pleased to announce a $5 million investment in BuildDirect.com Technologies Inc. (“BuildDirect”), a leading online supplier of home improvement products. With this investment, BuildDirect has raised an aggregate of $13 million over the past two months.
“We are very pleased to add BuildDirect to our portfolio,” said Tom Liston, Managing Partner at Difference Capital. “We believe BuildDirect’s innovative online and logistics platforms will allow it to continue to lead and create new opportunities within the home improvement product supply chains and should prove to be a highly visible component of our portfolio.”
BuildDirect enables buyers to purchase heavy home improvement goods directly from manufacturers at prices well below existing channels. The elimination of many of the steps and costs of the legacy building material supply chain allows BuildDirect to offer prices between 30 and 80 per cent below retail while offering manufacturers sophisticated data analytics to better manage production and marketing functions. BuildDirect’s proprietary logistics network allows it to deliver its heavy-weight products to consumers in a timely and cost-effective manner, in a market not well-served by traditional eCommerce organizations and major delivery firms such FedEx and UPS.
“We are very excited to have Difference Capital as a strategic funding partner,” said Jeff Booth, President and Chief Executive Officer of BuildDirect. “Difference Capital’s expertise in the technology sector, core principals, and network are essential for the growth of BuildDirect. Following closely behind a recent $8 million financing from a large institutional Canadian investor, this latest fundraising will provide us with flexibility to execute our growth plans.”
About Difference Capital Financial Inc.
Difference Capital Financial Inc. is a publicly-listed, Toronto-based specialty finance company focused on creating shareholder value through strategic investments in, and advisory services for, growth companies, particularly in the technology, media and healthcare sectors, as well as through opportunistic investments in undervalued financial assets and real property.
About BuildDirect.com Technologies Inc.
BuildDirect is an online supplier of home improvement products dedicated to being below what you would expect to pay for home improvement products, and above expectations around both quality and customer service. Through custom and proprietary web analytics and forecasting tools, BuildDirect is reinventing and redefining how consumers can receive the best prices for their home or renovation needs without sacrificing quality. For manufacturers around the globe, BuildDirect identifies in real time how a product is performing, forecast trends and pinpoint production needs to improve manufacturing efficiencies. By connecting the consumer directly to the manufacturer, BuildDirect simplifies the buying chain resulting in the best prices in the market with the same level of quality as national brands.
BuildDirect has 12 warehouse locations across North America and is headquartered in Vancouver, BC. For more information, visit http://www.builddirect.com.
This release includes forward-looking statements regarding DCF and its business. Such statements are based on the current expectations and views of future events of DCF’s management. In some cases the forward-looking statements can be identified by words or phrases such as “may”, “will”, “expect”, “plan”, “anticipate”, “intend”, “potential”, “estimate”, “believe” or the negative of these terms, or other similar expressions intended to identify forward-looking statements. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties beyond the control of DCF. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and DCF undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Difference Capital Financial Inc.
Chief Executive Officer
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