News

Ironbridge Equity Partners sells Frischkorn Audio-Visual

(Toronto – October 25, 2018) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have completed the sale of Frischkorn Audio-Visual Corp. (“FMAV” or the “company”) to PSAV, a portfolio company of Blackstone (NYSE:BX) (“Blackstone”).

The financial terms of the transaction were not disclosed.

Over the course of its investment, Ironbridge supported management to expand the company’s national market share by completing three acquisitions, investing in sales capabilities, and improving internal systems and processes.
“Partnering with the FMAV management team was an excellent experience for Ironbridge. Bill and his team did an impressive job growing the business over the last five years.” said Peter Samson, Managing Partner of Ironbridge. “We appreciate management’s dedication and wish them continued success in their new partnership with PSAV.”

“Ironbridge was a valuable partner for the FMAV management team,” said Bill Brown, President and CEO of FMAV. “They played an integral role supporting us as we executed our strategic plan and grew the business into a national platform. We are grateful to the Ironbridge team for their backing and are excited about the next chapter of growth with PSAV and Blackstone.”

Frischkorn was the first investment in Ironbridge’s second private equity fund, Ironbridge Equity Partners II, LP, a fully-committed $154 million fund.

About FMAV:

FMAV is Canada’s leading independent provider of audio-visual services to corporate clients. Over the last 42 years, FMAV has built a strong, well-recognized national brand by continually providing high-quality event production for corporate events, association events, galas, conventions, product launches and hotel meetings. FMAV employs a workforce of highly-trained technicians and maintains a stock of equipment with the latest technological advancements, allowing it to be an innovative, one-stop source of supply for audio-visual services in Canada.

About Ironbridge:

Ironbridge is a Canadian private equity firm whose strategy is to make equity and equity-linked investments in high-quality, mid-market, Canadian private companies. Target industries include consumer and business products and services, manufacturing, and distribution. The operating background of the principals enables Ironbridge to be a high-value partner to management teams as they seek to improve and grow their businesses. Ironbridge’s assets under management are over $400 million including its third private equity fund, Ironbridge Equity Partners III, LP, a fully-committed $238 million fund raised in April 2016.

For more information, contact:

Peter Samson

Managing Partner
Ironbridge Equity Partners
(416) 863-0102

www.ironbridgeequity.com

Bill Brown
President & CEO
FMAV
(905) 281-9328
www.fmav.ca

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Ironbridge Equity Partners completes partnership with Canada Metal (Pacific) Limited.

(Toronto – October 12, 2018) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have partnered with Canada Metal (Pacific) Limited (“CMP” or the “Company”) of Delta, BC.

Canada Metal (Pacific) Limited is a leading manufacturer and distributor of branded products serving the recreational marine, commercial marine and industrial markets. Founded in the early 1900s, the company has leading market share globally in OEM and aftermarket anodes for marine pleasure-craft. The company operates in six facilities across Canada, The United States, China, Australia and Italy and leverages its global reach to enable low-cost manufacturing and efficient access to customers in major markets around the world.

“We are very impressed with the company’s breadth of in-house capabilities, their international distribution network, and unique products. This has made CMP a market leader,” said Peter Samson, Managing Partner at Ironbridge. “They have an outstanding reputation in the marketplace for new and innovative branded products. We believe that this provides an excellent platform for future growth.”

“Ironbridge brings a solid track record of enabling businesses like ours to improve operational efficiencies as well as providing capital to support dynamic growth initiatives,” said CMP president, John Mitchell. “All of us at CMP are very pleased to bring on board such a strategic and energetic new partner.”

Ironbridge is investing in CMP through the firm’s most recent fund: Ironbridge Equity Partners III, LP, which is a fully-committed $238 million fund.

Ironbridge’s team of eleven investment professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The Ironbridge team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value.

For more information, contact:

Jeffrey Murphy

Partner
Ironbridge Equity Partners
(416) 863-0107
www.ironbridgeequity.com

John Mitchell

President
Canada Metal (Pacific) Limited
(604) 940-2010
www.cmpgroup.net

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A V Gauge & Fixture Inc. merges with Absolute Industrial Management Inc.

(Toronto June 1, 2018) A V Gauge & Fixture Inc. (“AV Gauge”), an Ironbridge portfolio company, is pleased to announce it has merged with Absolute Industrial Management Inc. (“Absolute Industrial Automation”).

Established in 2009, Absolute Industrial Automation designs, builds and integrates automated assembly, welding and processing equipment. Based in Windsor, Ontario, the company has 26 employees serving customers in Canada, the United States and Mexico. In 2016 and 2017 it was recognized as one of Profit 500 magazine’s fastest growing companies.

AV Gauge is a leading manufacturer of specialized gauging and check fixture equipment for the automotive industry. Founded in 1985, the company supplies most major OEMs and Tier-I’s, and operates in eight facilities across Canada, the United States and Mexico. Vertically integrated, AV Gauge strives to employ the best people, utilize the latest technologies and adopt the most efficient processes to satisfy customers. AV Gauge was named one of Canada’s Best Managed Companies in 2018.

“This merger is part of our strategic plan and provides benefits to our employees, customers and each corporation. We believe that when we put our greatest efforts into being our customers’ top partner while serving our employees’ best interests, we achieve our finest successes.” said Mark Rossi, President of Absolute Industrial Automation.

Denis Levasseur, CEO of AV Gauge said, “Our industry is continuously evolving and is being shaped by technology, consolidation and globalization. We are leaders in our fields of expertise and by joining forces we are better able to serve our customers’ needs.”

The Ironbridge team of eleven investment professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. Ironbridge has extensive financial and operating experience and works closely with the management of its portfolio companies to enhance value.

For more information, contact:

Denis Levasseur
CEO
A V Gauge & Fixture Inc.
(519) 737-7677
www.avgauge.com

Mark Rossi
President
Absolute Industrial Automation
(519) 737-0497
www.absoluteind.com

Alan Sellery
Managing Partner
Ironbridge Equity Partners
(416) 863-0101
www.ironbridgeequity.com

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Dumur Industries acquires assets of Dellcom Aerospace Inc.

(Toronto – June 1, 2018) Dumur Industries (“Dumur”), an Ironbridge Equity Partners (“Ironbridge”) portfolio company, is pleased to announce it has acquired the assets of Dellcom Aerospace Inc. (“Dellcom” or the “Company”) of Concord, Ontario.

Founded in 1980, Dellcom is a precision machining and sub-assembly provider to OEM and Tier 1 aerospace customers. The company specializes in rapid manufacturing of small to mid-sized airframe components and provides value-engineering services to customers. Dellcom is AS9001 Rev. C certified and offers Blue-Streak manufacturing services.

Dumur is a precision metal fabrication and machining business primarily servicing the military and aerospace sectors. It offers full-service, design-to-delivery fabrication and machining for a wide range of projects from parts production runs to complex, custom-fabricated assemblies. Dumur has specific domain expertise in manufacturing components for light armored vehicles for North America’s largest defence contractors.

Ian Harrison, President of Dumur, said, “We are excited to combine the expertise and capabilities of Dellcom and Dumur to strengthen our offering to customers in both aerospace and defense. We believe our customers will benefit from our increased capacity and expanded service offering.”

Ironbridge’s team of eleven professionals invests in Canadian lower middle-market businesses in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The Ironbridge team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value.

For more information, contact:

Ian Harrison
President
Dumur Industries
(306) 337-8801
www.dumurindustries.com

Mark Bathurst
Vice President
Dellcom Aerospace
(416) 459-9277
www.vertexprecision.com/dellcom

Jeff Murphy
Partner
Ironbridge Equity Partners
(416) 863-0107
www.ironbridgeequity.com

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Ironbridge Equity Partners acquires the assets of Midland Appliance Ltd., BCH Transport Ltd. and Innovative Appliance Distributors Ltd.

(Toronto – December 7, 2017) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have purchased the assets of Midland Appliance Ltd., BCH Transport Ltd. and Innovative Appliance Distributors Ltd., (together, “Midland” or the “Company”) of Richmond, British Columbia.

Founded in 1984, by Tom Hleucka, Midland is a leading dealer of premium and super premium branded home appliances throughout Western Canada. The Company serves its network of developer, builder, designer and architect customers with a team of over 60 employees operating from its headquarters in Richmond, B.C., an additional location in Vancouver, B.C., and a sales presence in Calgary, Alberta.

“From our first meeting with Ironbridge, Ken Harris (Executive Vice President) and I knew they were the right partners for the next chapter of growth,” said David Bast, President of Midland. “In partnering with Ironbridge and Lee Methot, a highly accomplished appliance industry executive, Midland gains invaluable access to a breadth of operational expertise and business experience, combined with a culture of integrity that is aligned with our own.”

“Over the years, Midland has developed a reputation for excellence with its customers in Western Canada. With the Company’s broad product portfolio of premium appliances and deep network of industry relationships, we believe the business is a great platform for growth,” said Andrew Walton, Partner at Ironbridge. “We are pleased to be partnering with the Midland team.”

Midland is the third investment in Ironbridge’s third private equity fund, Ironbridge Equity Partners III, LP, a fully-committed $238 million fund.

Ironbridge’s team of twelve professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The Ironbridge team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value.

For more information, contact:

Andrew Walton
Partner
Ironbridge Equity Partners
(416) 867-2274
www.ironbridgeequity.com

David Bast
President
Midland Appliance
(604) 278-6131

www.midlandappliance.com

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Ironbridge Equity Partners completes partnership with AV Gauge & Fixture Inc.

(Toronto – July 31, 2017) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have partnered with A V Gauge & Fixture Inc. (“AV Gauge” or the “Company”) of Oldcastle, Ontario.

A V Gauge & Fixture Inc. is a leading manufacturer of specialized gauging and check fixture equipment for the automotive industry. Founded in 1985, the company supplies most major OEMs and Tier-I’s and operates in 8 facilities across Canada, United States and Mexico. Vertically integrated, AV Gauge strives to employ the best people, utilize the latest technologies and adopt the most efficient processes to satisfy customers. The company was named as one of Canada’s Best Managed Companies in 2017.

“We are very impressed with the company’s breadth of in-house capabilities and operating efficiency. This has made AV Gauge a market leader.” said Peter Samson, Managing Partner at Ironbridge. “They have an outstanding reputation in the marketplace for on time delivery of high quality products for the most complex jobs.  We believe this provides an excellent platform for future growth.”

“The Ironbridge team has a proven history of success, and will work with us to help execute our strategy to continue to grow and diversify,” said Denis Levasseur, CEO of AV Gauge. “We believe that Ironbridge’s operating expertise and business experience gives us the additional resources to further scale and grow AV Gauge by maintaining our commitment to delivering the highest quality product to our customers.”

Ironbridge is investing in AV Gauge jointly through the firm’s two most recent funds:  Ironbridge Equity Partners II, LP, a fully-committed $154 million fund; and, Ironbridge Equity Partners III, LP, a fully-committed $238 million fund.

Ironbridge’s team of eleven investment professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The Ironbridge team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value.

CIBC acted as the exclusive financial advisor to AV Gauge in connection with the transaction.

For more information, contact:

Peter Samson
Managing Partner
Ironbridge Equity Partners
(416) 863-0102
www.ironbridgeequity.com

Denis Levasseur
CEO
A V Gauge & Fixture Inc.
(519) 737-7677
www.avgauge.com

Read more...

Ironbridge Equity Partners acquires the assets of Armtec LP’s Ontario Standard Precast Concrete division.

(Toronto – June 30, 2017) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that it has purchased the assets of Armtec LP’s Ontario Standard Precast Concrete division (the “Business”), which will operate as Power Precast Solutions Ltd. (“Power Precast”) in Ottawa, and Brooklin Concrete Products Corp. (“Brooklin Concrete”) in the remaining locations.

The Business is a leading manufacturer of precast landscaping and structural concrete building products, backed by a 60-year history in the industry. With a staff of over 150 employees operating from facilities in Brooklin, Ottawa, Huntsville, Newmarket and Haliburton, the Business serves customers across Ontario as well as Quebec and the state of New York.

“We are excited to work with the great team at Brooklin Concrete and Power Precast,” said Peter Dowse, Partner and Chief Financial Officer at Ironbridge. “They have an outstanding reputation in the industry and we believe the business has great opportunities for growth.”

The investment is the eleventh in Ironbridge’s second private equity fund, Ironbridge Equity Partners II, LP, a fully-committed $154 million fund.

Ironbridge’s team of eleven investment professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The Ironbridge team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value.

For more information contact:

Peter Dowse
Partner and Chief Financial Officer
Ironbridge Equity Partners
(416) 863-0106
www.ironbridgeequity.com

Read more...

Ironbridge Equity Partners announces that they, together with management, have acquired Avena Foods Limited

(TORONTO, June 1, 2017) – Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have acquired Avena Foods Limited (“Avena” or the “Company”) of Regina, Saskatchewan.

Avena is a leading supplier of gluten-free oats to the North American market. Since 2008, Avena has been providing its customers and consumers with consistent, superior quality, certified gluten-free oats – guaranteed to be wheat, barley, and rye-free. With a dedicated gluten-free facility, a network of gluten-free growers across Western Canada, and a controlled distribution system, Avena has become the industry leader for oat purity and has established its Purity Protocol as the industry standard for the production of gluten-free oats.

“From our first meeting, we were very impressed with the business that the Avena team has built,” said Peter Samson, Managing Partner at Ironbridge. “They have an outstanding reputation in their market for consistent product purity, and we believe this gives them an excellent platform as they look to continue to grow in this dynamic industry.”

“The Ironbridge team has a proven history of success, and will work with us to implement our strategy as we continue to grow and diversify,” said Rob Stephen, CEO of Avena Foods. “We believe Ironbridge’s operating experience and business expertise will provide us with the resources we need to scale and grow our company while maintaining our dedication to superior quality and product purity.”

Avena is the tenth investment in Ironbridge’s second private equity fund, Ironbridge Equity Partners II, LP, a fully-committed $154 million fund.

Ironbridge’s team of eleven investment professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The Ironbridge team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value.

Origin Merchant Partners acted as exclusive financial advisor to Avena in connection with the transaction.

For more information, contact:

Peter Samson
Managing Partner
Ironbridge Equity Partners
(416) 863-0102
www.ironbridgeequity.com

Rob Stephen
CEO
Avena Foods Limited
(306) 757-3664
www.avenafoods.com

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Ironbridge Equity Partners enters agreement to sell Demers Ambulances

(Toronto – November 23, 2016) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have entered into an agreement to sell Demers, Ambulance Manufacturer Inc. (“Demers” or the “Company”) to an entity controlled by Clearspring Capital Partners (“Clearspring”).

The financial terms of the transaction were not disclosed.

Over the course of its investment, Ironbridge worked alongside management to expand its distribution footprint in the U.S., open a U.S. manufacturing facility, improve internal systems and processes, and reduce required working capital needs.

“The Demers management team were excellent partners and did a tremendous job growing the business and executing the U.S. growth strategy” said Pete Samson, Managing Partner of Ironbridge. “We are very thankful for the constructive partnership with management and wish them all the best under Clearspring’s ownership.”

“Ironbridge was a great partner and sounding board for the Demers management team,” said Alain Brunelle, President of Demers. “Ironbridge helped us to stay focused on executing our strategic plan and growing the business. We thank the Ironbridge team for their support and are excited about our next stage of growth with Clearspring.”

Demers was the second investment in Ironbridge’s second private equity fund, Ironbridge Equity Partners II, LP, a fully-committed $154 million fund.

About Demers:

Headquartered in Beloeil, Quebec, Demers is the Canadian leader in ambulance design, manufacturing and distribution, and is the second-largest industry participant in North America. Demers produces state-of-the-art ambulances which are sold both directly to customers and indirectly through a dealer network. Demers serves over 400 clients composed mainly of government agencies, fire departments, public ambulance services, private ambulance services and hospitals. Through its commitment to quality and innovation, the Company offers best-in-class ambulances with a proven track record of long-term durability and efficient operating costs.

About Ironbridge:

Ironbridge is a Canadian private equity firm whose strategy is to make equity and equity-linked investments in high-quality, mid-market, Canadian private companies. Target industries include consumer and business products and services, manufacturing, and distribution. The operating background of the principals enables Ironbridge to be a high-value partner to management teams as they seek to improve and grow their businesses. Ironbridge’s assets under management are over $400 million including its third private equity fund, Ironbridge Equity Partners III, LP, a fully-committed $238 million fund raised in April 2016.

For more information, contact:

Peter Sampson
Managing Partner
Ironbridge Equity Partners
(416) 863-0102
www.ironbridgeequity.com

Alain Brunelle
President
Demers, Ambulance Manufacturer Inc.
(450) 467-4683 ext. 224
www.demers-ambulances.com

Read more...

Ironbridge completes the first and final closing of oversubscribed Fund III at CAD $238 million hard cap

(TORONTO, May 3, 2016) – Ironbridge Equity Partners (“Ironbridge”) today announced that it has completed the first and final closing of its third private equity fund, Ironbridge Equity Partners III, LP (“Fund III” or the “Fund”). Ironbridge raised CAD $238 million from investors in Canada, the US, the UK and the Middle East, and surpassed its target of CAD $200 million. Fund III represents a 55% increase in capital from the predecessor vehicle, Ironbridge Equity Partners II, LP (“Fund II”) which had its final closing in April, 2014. Oversubscribed by institutional investors, the Fund closed at its hard cap within three months of launching and brings Ironbridge’s assets under management to over CAD $400 million.

Alan Sellery, Managing Partner of Ironbridge commented, “We are very pleased with the support we received from our existing investors, many of whom have materially increased their commitments to Fund III. We would also like to welcome our new investors to the Fund, and look forward to creating long-term relationships with these institutions and individuals. With the new Fund, we will continue to execute the same successful investing strategy that we have pursued since our founding in 2005: partner with exceptional management teams to facilitate owner-operator transitions, corporate carve-outs, turnarounds and growth financings in the Canadian lower middle-market.”

Ironbridge invests in a broad range of industries including manufacturing, distribution, and consumer and business products and services. Ironbridge’s nine investment professionals have extensive financial and operating experience, and work closely with the management teams of its portfolio companies to enhance value.

Elm Capital acted as the exclusive placement agent for the Fund.

For more information, contact:

Alan Sellery
Managing Partner
Ironbridge Equity Partners
(416) 863-0101
www.ironbridgeequity.com

Etienne Deshormes
CEO
Elm Capital Associates Ltd
Elm Capital USA Ltd
+44 20 7901 8941
www.elmcapital.com

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Ironbridge Equity Partners announces that it, together with management, has made an investment in Thermogenics Inc.

(TORONTO, March 14, 2016) – Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that it, together with management, has made an investment in Thermogenics Inc. (“Thermogenics” or the “Company”) of Aurora, Ontario.

Originally established in 1975, Thermogenics is a leading manufacturer of coil-tube steam and hot-water boilers and related equipment used in industrial, commercial and institutional applications in the North American market. The Company also provides “best-in-class” parts and maintenance services to its installed base via its team of factory trained technicians. With its comprehensive product and service offering, Thermogenics functions as a “one-stop shop” for all of its customers’ heating and steam requirements. The Company currently operates out of a 27,000 square foot manufacturing and service facility in Aurora, Ontario and dedicated sales and service office located in Cincinnati, Ohio.

“We are anxious to begin working with Ironbridge on the next chapter of growth for Thermogenics,” said Bryan Heppell, President of Thermogenics. “We believe the breadth of operating experience and expertise that Ironbridge brings to the table, as well as their proven track record of success in partnering with owner-operators will provide us with the resources we need to scale and grow our business, without compromising the superior level of service we currently provide to our customer base.”

“The management team at Thermogenics has done a tremendous job developing a brand name and excellent reputation within the industry as the premier provider of coil-tube boiler products, parts and services, positioning themselves to capitalize on the forecast growth in industrial activity and infrastructure spend within North America,” said Jeff Murphy, Partner at Ironbridge. “We are very excited to partner with this highly passionate and ambitious management team as we pursue the many growth opportunities available to the business.”

Thermogenics is the eighth investment in Ironbridge’s second private equity fund, Ironbridge Equity Partners II, LP, a fully-committed $154 million fund.

Ironbridge’s team of nine professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The Ironbridge investment team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value

For more information, contact:

Jeff Murphy
Partner
Ironbridge Equity Partners
(416) 863-0107
www.ironbridgeequity.com

Bryan Heppell
President
Thermogenics Inc.
(905) 727-1901
www.thermogenicsboilers.com

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Ironbridge Equity Partners announces that they, together with management, have made an investment in Back in Motion Rehab Inc.

(TORONTO, January 11, 2016) – Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have made an investment in Back in Motion Rehab Inc. (“Back in Motion” or the “Company”) of Richmond, British Columbia.

Back in Motion is a leading provider of employment, rehabilitation and physiotherapy services. For over 20 years, the Company has been dedicated to helping people overcome barriers and reach their full employment potential. Back in Motion delivers flexible, accessible interdisciplinary rehabilitation, disability management and employment services that recognize the uniqueness of each person. With a staff of over 250 dedicated, enthusiastic people, it serves ten communities across Metro Vancouver and is known for creative solutions and exceptional results.

“We are excited to work with the great team at Back in Motion,” said Pete Samson, Managing Partner at Ironbridge. “They have an outstanding reputation in their market, and we believe that gives them an excellent platform as they look to expand the scale and scope of their business.”

“The Ironbridge team has a proven track record, and will work with us to refine and implement our vision and business strategy as we grow and diversify,” said Debbie Samsom, President of Back in Motion. “Through this partnership, Back in Motion will have access to national expertise and high caliber talent, and work with a company whose corporate culture of excellence and integrity is aligned with our own.”

Back in Motion is the seventh investment in Ironbridge’s second private equity fund, Ironbridge Equity Partners II, LP, a fully-committed $154 million fund.

Ironbridge’s team of nine investment professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The Ironbridge team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value

For more information, contact:

Peter Samson
Managing Partner
Ironbridge Equity Partners
(416) 863-0102
www.ironbridgeequity.com

Debbie Samsom
President
Back in Motion Rehab Inc.
(604) 273-7600
www.backinmotion.com

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Ironbridge Equity Partners announces that its portfolio company, Advance Engineered Products has sold Westech Vac Systems to Federal Signal’s Environmental Solutions Group

(TORONTO, January 5, 2016) – Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that its portfolio company, Advance Engineered Products Ltd. (“Advance”) of Regina, Saskatchewan has sold its subsidiary, Westech Vac Systems Ltd. (“Westech”) to the Environmental Solutions Group of Federal Signal Corporation (“Federal Signal”).

Westech, based in Nisku, Alberta is Western Canada’s leading manufacturer of high-quality, rugged vacuum trucks that are designed for extreme environmental conditions. On October 1, 2015 Ironbridge purchased Advance, Canada’s leading tank trailer manufacturer and service centre operator. Westech was deemed non-core to the ongoing operations of Advance, as Advance refocuses on manufacturing and servicing tank trailers.

Advance was the fifth investment in Ironbridge’s second private equity fund, Ironbridge Equity Partners II, LP, a fully-committed $154 million fund.

Ironbridge invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The nine-person investment team has extensive financial and operating experience and works closely with the management of its portfolio companies to enhance value.

About Federal Signal:

Federal Signal (NYSE: FSS) provides products and services to protect people and our planet. Founded in 1901, Federal Signal is a leading global designer and manufacturer of products and total solutions that serve municipal, governmental, industrial and commercial customers. Headquartered in Oak Brook, Ill., with manufacturing facilities worldwide, the Company operates three groups: Environmental Solutions, Safety and Security Systems, and Fire Rescue. For more information on Federal Signal, visit: www.federalsignal.com.

Federal Signal’s Environmental Solutions Group is a leading provider of a full range of Elgin street sweepers, Guzzler industrial vacuum trucks, Jetstream high-performance waterblasting equipment, and Vactor sewer cleaners and vacuum excavators for commercial, municipal and industrial customers. The Environmental Solutions Group also includes FS Solutions, which offers unsurpassed expertise and a unique breadth of environmental cleaning equipment, parts, rental, service and training.

For more information, contact:

Alan Sellery
President and Managing Partner
Ironbridge Equity Partners
(416) 863-0101
www.ironbridgeequity.com

Darrell Zwarych
President and CEO
Advance Engineered Products Ltd.
(306) 721-4803
www.advanceengineeredproducts.com

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Ironbridge Equity Partners and Westerkirk Capital Inc. announce that they have completed the sale of portfolio company Gaspard LP

(TORONTO, October 15, 2015) – Ironbridge Equity Partners (“Ironbridge”) of Toronto, ON and Westerkirk Capital Inc. (“Westerkirk”) of Victoria, BC are pleased to announce that they have completed the sale of portfolio company Gaspard LP (“Gaspard” or the “Company”) to American Achievement Corporation (“American Achievement”). Gaspard is a leading North American manufacturer and distributor of academic regalia, clergy vestments, choral robes, and legal and judicial attire.

The financial terms of the transaction were not disclosed.

Gaspard, founded in 1909, was family owned until its acquisition by Ironbridge and Westerkirk in 2009. Over the course of their investment, Ironbridge and Westerkirk worked alongside management to improve internal systems and processes, reconstitute the management team through an extensive succession plan, execute multiple add-on acquisitions and strengthen the Company’s market position both domestically and internationally.

“The management team has done a terrific job executing on growth initiatives to date and we are confident they will continue their strong trajectory” said Alan Sellery, President and Managing Partner of Ironbridge. “We wish the team ongoing success and want to thank them for the productive partnership over the course of our investment.”

“We are extremely proud of our partnership with Ironbridge and Westerkirk, which was essential in supporting our growth,” said David Blatt, President of Gaspard. “We look forward to the next phase in our development with American Achievement and would like to thank Ironbridge and Westerkirk for their commitment and support.”

About Gaspard:

Gaspard is a manufacturer and distributor of academic regalia, clergy vestments, choral robes, and legal and judicial attire. The Company’s products are primarily sold direct-to-user in Canada, while the U.S. market is served via a combination of company and independent representatives. Winnipeg, MB serves as the Company’s headquarters, and is its manufacturing and distribution facility for the Canadian market. A second manufacturing facility in Puerto Rico produces regalia for the U.S. and Puerto Rican markets. Additional distribution centers are located in Toronto, Montreal, Omaha, Boston, and Minneapolis.

About Ironbridge:

Ironbridge’s team of nine investment professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The Ironbridge investment team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value. Ironbridge is currently investing its second private equity fund, Ironbridge Equity Partners II, LP, a fully-committed $154 million fund.

For more information, contact:

Alan Sellery
President and Managing Partner
Ironbridge Equity Partners
(416) 863-0101
www.ironbridgeequity.com

Peter Dowse
Partner and Chief Financial Officer
Ironbridge Equity Partners
(416) 863-0106
www.ironbridgeequity.com

Read more...

Ironbridge Equity Partners announces that they, together with management, have acquired Advance Engineered Products Ltd. and Dumur Industries.

(TORONTO, October 1, 2015) – Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have acquired the assets of Advance Engineered Products Ltd. (“Advance”) of Regina, Saskatchewan and the shares of Dumur Industries (“Dumur”) of White City, Saskatchewan.  Dumur was previously a 100% owned subsidiary of Advance.  Ironbridge will hold both Advance and Dumur as separate portfolio companies.

Advance is western Canada’s leading tank trailer and vacuum truck manufacturer and service center operator. It currently operates three distinct businesses: (i) designing and manufacturing aluminum and stainless steel truck tanks and trailers under the Advance and Lazer Inox brands; (ii) operating service centers for the repair, maintenance, inspection and certification of truck tanks and trailers; and (iii) manufacturing and servicing vacuum trucks under the Westech brand. Advance primarily serves the petroleum, chemical, food, oil and gas, bulk feed and dry bulk end markets. It operates two manufacturing facilities and five service centers in western Canada and an additional manufacturing facility in Drummondville, Quebec.

Darrell Zwarych, President and CEO of Advance said “We are pleased with the result of the sale process and what it means for our future. Ironbridge brings financial stability and expertise to help us better serve our customers and grow.”

Dumur is a precision metal fabrication and machining business primarily servicing the military and aerospace sectors. It offers full-service, design-to-delivery fabrication and machining for a wide range of projects from parts production runs to complex, custom-fabricated assemblies. Dumur has specific domain expertise in manufacturing components for light armored vehicles for North America’s largest defence contractors.

Ian Harrison, President of Dumur said “We are excited to partner with Ironbridge and benefit from the expertise in helping small businesses like Dumur execute on their strategic plan and enter the next phase of their life cycle. Ironbridge’s experience in manufacturing will be beneficial to the future of Dumur.”

“Both Advance and Dumur are great, well run businesses that we are proud to have in our portfolio of investments,” said Alan Sellery, President and Managing Partner of Ironbridge.  “We look forward to working with both Darrell Zwarych, Ian Harrison and their management teams over the course of our investments.”

Advance and Dumur are the fifth and sixth investments, respectively in Ironbridge’s second private equity fund, Ironbridge Equity Partners II, LP, a fully-committed $154 million fund.

Ironbridge’s team of nine professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The Ironbridge investment team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value.

For more information, contact:

Alan Selery
President and Managing Partner
Ironbridge Equity Partners
(416) 863-0101

Darrell Zwarych
President and CEO
Advance Engineered Products Ltd.
(306) 721-4803

Ian Harrison
President
Dumur Industries
(306) 337-8801

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Ironbridge Equity Partners announces that they, together with management, have made an investment in Alliance Corporation.

(TORONTO, July 31, 2015) – Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have made an investment in Alliance Corporation (“Alliance” or the “Company”) of Mississauga, Ontario.

Alliance is a leading full-service, value-added distributor and manufacturer of products and solutions including cabling, assemblies, antennas and related active and passive connectivity componentry to support wireless, broadband, broadcast and wireline networks for the North American market. Over the past 20+ years, Alliance has developed a strong, well-recognized reputation as the “one-stop-shop” for infrastructure solutions, and has played a vital role in the build-out of the telecommunications infrastructure industry in North America. Alliance provides diversified kitting and fulfilment solutions to national carriers, OEMs, system integrators and general contractors via strategically placed stocking and manufacturing facilities in Canada, United Sates and Mexico.

“The wireless and broadband infrastructure sector has experienced significant growth in recent years driven by ongoing expansion and upgrading of networks in order to meet the accelerating data demands of consumers, and businesses,” said Ron Moss, President of Alliance. “The Ironbridge partnership comes at an opportune time in our Company’s history to pursue and capitalize on these favorable industry dynamics.”

“Alliance has a long and successful history of providing excellent supply-chain solutions and value-add manufacturing to the major carriers in North America. Alliance has built a broad supply and customer base through consistent performance and strong customer service,” said Andrew Walton, Partner at Ironbridge. “We are tremendously excited to be partnering with the Alliance team and working with them in growing the business going forward.”

Alliance is the fourth investment in Ironbridge’s second private equity fund, Ironbridge Equity Partners II, LP, a fully-committed $154 million fund.

Ironbridge’s team of nine professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The Ironbridge investment team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value.

For more information, contact:

Andrew Walton
Partner
Ironbridge Equity Partners
(416) 867-2274
www.ironbridgeequity.com

Ron Moss
President
Alliance Corporation
(905) 817 9226
www.alliancecorporation.ca

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Andrew Walton joins Ironbridge

(Toronto – January 26, 2015) Ironbridge Equity Partners is pleased to announce the addition of Andrew Walton as a Partner.

Andrew spent the past 7 years as a Partner with two Canadian based middle-market private equity funds. Prior to that, Andrew was a Partner in the PwC Transaction Services group where he advised both private equity and corporate clients on local and international acquisitions and divestitures. Andrew has held several operational executive roles within portfolio companies including CEO of Westridge Cabinets Ltd and CFO of New Food Classics Partnership. Andrew is a Chartered Accountant (SAICA) and holds a Bachelor of Commerce degree and Accounting Honours from the University of Cape Town, South Africa. He is a graduate of the Institute of Corporate Directors from the University of Toronto, Rotman School of Management.

For more information, contact:

Alan Sellery

President and Managing Partner
Ironbridge Equity Partners
(416) 863-0101
info@ironbridgeequity.com
www.ironbridgeequity.com

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Ironbridge sells Frost Fighter Inc.

(Toronto – October 1, 2014) Ironbridge Equity Partners (“Ironbridge”) of Toronto, ON is pleased to announce the successful sale of Frost Fighter Inc. (“Frost Fighter” or the “Company”), a leading manufacturer of high-quality, temporary portable heating equipment, to Headwater Equity Partners of Vancouver, BC. Ironbridge partnered with the existing management to acquire the business in December, 2011. The financial terms of the transaction were not disclosed.

About Frost Fighter:

Frost Fighter is a manufacturer of temporary portable heating solutions used in harsh weather environments. The Company’s products are primarily used in construction, oil and natural gas, mining and natural resources, industrial, agricultural and military applications across Canada and the United States. Frost Fighter’s corporate office and manufacturing plant is located in Winnipeg, MB.

About Ironbridge:

Ironbridge’s team of professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The Ironbridge investment team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value. Ironbridge is currently investing from its second private equity fund, Ironbridge Equity Partners II, LP, a fully-committed $154 million fund.

For more information, contact:

Alan Sellery
President and Managing Partner
Ironbridge Equity Partners
(416) 863-0101
info@ironbridgeequity.com
www.ironbridgeequity.com

Peter Dowse
Partner and Chief Financial Officer
Ironbridge Equity Partners
(416) 863-0106
info@ironbridgeequity.com
www.ironbridgeequity.com

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Ironbridge Equity Partners announces that they, together with management, have made an investment in M&M Resources Inc.

(TORONTO, July 30, 2014) – Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have made an investment in M&M Resources Inc. (“M&M” or the “Company”) of Fort Nelson, British Columbia (“BC”).

M&M is a leading energy services business focused on the oil and gas industry in northeast British Columbia and northwest Alberta. The Company services these geographies via locations in Fort Nelson and Fort St. John, BC. M&M’s veteran operators and extensive, well-maintained equipment fleet provide best-in-class land-clearing and trucking services. M&M provides these services for seismic land clearing, infrastructure, pipeline and well site development. M&M is well positioned in a region where international energy companies have made significant investments to access the prolific natural gas fields in the Liard, Horn and Montney basins.

“We have experienced material development in the region, due in part to the potential of liquefied natural gas (“LNG”) production on the West coast of Canada, and we look forward to our new partnership with Ironbridge. We believe that the Ironbridge team is well suited to support the growth of our business,” said Mike Barrette, President of M&M. “Ironbridge has demonstrated a proven track record of working with owner-operators and giving them the resources to grow. Ultimately, we believe this alliance will allow us to continue to provide superior service and scale to all of our First Nations partners and blue chip E&P customers.”

“We look forward to this new partnership with Mike and the M&M management team and believe the group has the experience and skill set to continue to develop and grow this business,” said Jeff Murphy, Partner at Ironbridge. “Mike and his team are ambitious and motivated to succeed –we are anxious to start working as a team on the next set of growth initiatives.”

M&M is the third investment in Ironbridge’s second private equity fund, Ironbridge Equity Partners II, LP, a fully-committed $154 million fund.

Ironbridge’s team of seven professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The Ironbridge investment team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value.

For more information, contact:

Jeff Murphy
Partner
Ironbridge Equity Partners
(416) 863-0107
info@ironbridgeequity.com
www.ironbridgeequity.com

 

Michael Barrette
President
M&M Resources Inc.
(250) 774-4862
mikeb@mmresinc.com
www.mmresinc.com

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Ironbridge completes the final closing of Fund II at CAD $154 million

(TORONTO, April 28, 2014) – Ironbridge Equity Partners (“Ironbridge”) today announced that it has completed the final closing for its second private equity fund, Ironbridge Equity Partners II, LP (the “Fund”), raising C$154 million from Canadian, US and UK investors and surpassing its initial target size of $125 million. The fund was oversubscribed by institutional investors and brings the fundraising process to a close in less than ten months of marketing.

Alan Sellery, Managing Partner of Ironbridge commented, “We are very pleased with the support we have received from both Canadian and international institutional investors. With over 60% of the capital sourced from outside Canada, we believe this is indicative of the attractiveness of the Canadian market and the quality of the investment opportunities that exist here.”

Ironbridge’s team of seven professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The Ironbridge investment team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value.

Elm Capital acted as the exclusive placement agent for the Fund.

For more information, contact:

Alan Sellery
Managing Partner
Ironbridge Equity Partners

(416) 863-0101
info@ironbridgeequity.com
www.ironbridgeequity.com

 

Etienne Deshormes
CEO
Elm Capital Associates Ltd
Elm Capital USA Ltd

+44 20 7901 8941
edeshormes@elmcapital.com
www.elmcapital.com

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