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

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

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

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

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

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

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

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

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

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

 

Contact Us

Ironbridge Equity Partners

Bay Adelaide Centre – East Tower
22 Adelaide St. West, Suite 3520
Toronto, Ontario M5H 4E3
(416) 863-0105
info@ironbridgeequity.com

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