Ironbridge Equity Partners completes sale of Advance Engineered Products Ltd.

(Toronto – April 1, 2024) – Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have completed the sale of Advance Engineered Products Ltd. (“Advance” or the “Company”) to an entity controlled by TerraVest Industries Inc. (TSX:TVK) (“TerraVest”).

The financial terms of the transaction were not disclosed.

Throughout its investment, Ironbridge supported management to expand manufacturing capabilities, diversify end-market exposure, and implement efficiency improvements across its facilities.

“The Advance management team proved to be exceptional partners, effectively executing the turnaround and growth strategy,” said Al Sellery, President and Managing Partner at Ironbridge. “We extend our best wishes to the team as they embark on a new partnership with TerraVest.”

“Ironbridge played a pivotal role as a partner for the Advance business,” commented Darrell Zwarych, President and CEO of Advance. “Their support was invaluable. We extend our gratitude to the Ironbridge team and look forward to the next chapter of growth with TerraVest”.

Advance is the sixth exit from Ironbridge’s second private equity fund, Ironbridge Equity Partners II, LP, a fully-committed $154 million fund.

For more information, contact:

Alan Sellery

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

Darrell Zwarych

CEO
Advance Tank Engineered Products Ltd.
(639) 625-5001
www.advanceengineeredproducts.com