Dynamic Capital Delivers Game-Changing Funding for One of Western Canada's Infrastructure Icons
KELOWNA, BRITISH COLUMBIA / ACCESS Newswire / June 9, 2025 / Dynamic Capital Equipment Finance Ltd. (Dynamic Capital) is proud to announce the successful closing of its largest transaction to date - funding the acquisition of Formula Contractors Ltd. (Formula) by Prince George-based entrepreneur Will Hoban.
Formula, formerly known as Formula Piling & Bridge Contractors Ltd., has been a cornerstone in Western Canada's heavy civil construction industry since the 1970s. With this acquisition, Hoban aims to build on the company's long-standing reputation for quality, reliability, and innovation across infrastructure, energy, and resource sectors.
"This is a landmark moment for us at Dynamic Capital," said Dustin White, CEO of Dynamic Capital. "It's the largest transaction we've financed to date, not just in size, but in strategic impact. As a covenant-light, true term lender, we pride ourselves on our ability to move quickly and decisively to support entrepreneurs making bold moves in capital-intensive industries."
Formula has grown from a skilled team of bridge builders into a leading provider of construction, engineering, contracted services, and heavy equipment solutions. Today, it serves a broad range of sectors-from oil and gas to renewable energy-delivering excellence across every project.
Under Hoban's leadership, the company will continue to operate under its current brand, Formula Contractors, but return to its roots with an incorporated name of Formula Contractors Piling & Bridge Ltd., while maintaining its independent brand identity and strong commitment to Western Canadian markets.
"Formula stands as a legacy of integrity and excellence in infrastructure and construction," said Will Hoban, President of Formula Pile & Bridge Ltd. "I have immense respect for the long-standing relationship with Formula and deep admiration for its founder, Peter Thwaites, an industry pioneer whose vision and leadership shaped this company into what it is today. I'm honored to lead the next chapter of growth, investing in the people, equipment, and relationships that have made Formula a trusted name in the industry."
"The Formula acquisition is especially meaningful given the strength of the business and our ability to support an entrepreneur like Will Hoban in his vision," added White. "Helping bring this deal together with speed and certainty reflects exactly what Dynamic Capital was built to do."
This transaction marks an exciting new chapter for Formula, while reinforcing Dynamic Capital's position as a national leader in equipment finance - delivering capital, confidence and execution at scale.
About Dynamic Capital-
Dynamic Capital's ideas, advice and solutions are designed to help clients achieve both their short- and long-term goals. To explore customized funding options for your business or to learn more about joining our growing team, visit www.dynamiccapital.ca.
Contact Information
Kemi Omorogbe
Marketing Specialist
komorogbe@dynamiccapital.ca
5879265766
SOURCE: Dynamic Capital
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/banking-and-financial-services/dynamic-capital-closes-its-largest-deal-to-date-with-acquisition-fin-1035465
