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Ironbridge Equity Partners completes partnership with Les Industries Cendrex Inc.

(Montreal, August 12, 2021) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have acquired a controlling interest in Les Industries Cendrex Inc. (“Cendrex” or the “Company”), from BDG & Partners and Fonds de solidarité FTQ. 

Cendrex, based in Montreal, QC, is a leading manufacturer of high-quality standard and made-to-order access doors for the North American residential and non-residential construction market. The Company designs, manufactures, and sells its wide variety of SKUs to building product distributors and retailers. Founded in 1985, Cendrex has grown to 70 employees and has a network of nine distribution centres across North America. 

“Cendrex has generated consistent growth over two decades and continues to demonstrate its ability to penetrate new markets while providing exceptional service quality and lead times,” said Peter Samson, Managing Partner at Ironbridge. “We believe that Cendrex is a very attractive business and we are excited to support management through the Company’s next chapter of growth.”

“We have developed a strong platform over the years and look forward to working with the Ironbridge team to further scale and grow the business,” said Francine Pomerleau, President and CEO of Cendrex. “Cendrex is very pleased to bring on board such a strategic and engaged new partner.”

For more information, contact:
Peter Samson
Managing Partner
Ironbridge Equity Partners 
(416) 464-2080
www.ironbridgeequity.com

Francine Pomerleau
President & CEO
Les Industries Cendrex Inc.
(514) 493-1489
www.cendrex.com

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Ironbridge Equity Partners announces the promotion of Tanya Babalow and Daivik Doshi

(Toronto, November 6, 2020) We are pleased to announce the promotions of Tanya Babalow to Chief Financial Officer and Daivik Doshi to Vice President.

Tanya joined Ironbridge at the beginning of 2019 as VP, Finance. She is responsible for all compliance, financial reporting, and investor relations activities of the Ironbridge group of funds. Tanya holds a Master of Business Administration degree from the University of British Columbia, and a Bachelor of Arts degree specializing in Finance and Economics from Western University. Tanya is also a Chartered Professional Accountant, Certified General Accountant.

Daivik joined Ironbridge as an Associate in 2016 and was promoted to Senior Associate in 2018. He serves as a director of CMP Group Ltd. and GNI Management Group Inc., and as an observer on the board of Avena Foods Limited. Daivik holds a Master of Accounting and a Bachelor of Mathematics specializing in Accounting and Finance, both from the University of Waterloo. He is also a Chartered Professional Accountant and Chartered Business Valuator.

For more information, contact:

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

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Ironbridge Equity Partners completes partnership with GNI Management Group Inc.

(Toronto, September 1, 2020) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have acquired a controlling interest in GNI Management Group Inc. (“Great Northern Insulation” or “GNI”), from Mill Street & Co., which will continue to own a minority stake in GNI.

Great Northern Insulation, based in Woodstock, ON, is a leading provider of insulation services in the residential, commercial, industrial, and agricultural sectors. GNI has a complete building offering that includes insulation, air sealing, fireproofing, panel and cladding, building diagnostics and thermography. Founded in 1980, GNI has grown to eight locations and 300 employees offering building owners a complete solution to meet their needs for energy efficiency, environmental sustainability, structural durability, and comfort.

“We see the building envelope as being critical for commercial operators and homeowners to reduce energy consumption and meet future demands for efficiency and carbon neutrality,” said Bill Maginas, newly appointed CEO of GNI. “All of us at GNI are very pleased to align with such a strategic and engaged new partner.”

“This transaction marks a significant milestone for GNI to build on its market leading position,” said Noah Murad, President & CEO of Mill Street & Co. “We are thrilled to be partnering with Ironbridge, who has a long track record of successfully building and growing businesses in Canada.”

“We feel that this investment in GNI is a tremendous opportunity for Ironbridge, as GNI is the leader in insulation services in Ontario, has a well known brand, and management has done an impressive job expanding the geographic footprint and bringing new services to market,” said Jeff Murphy, Partner at Ironbridge.

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

Ironbridge’s team of twelve 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

Bill Maginas
CEO
GNI Management Group Inc.
(416) 557-9682
gni.ca

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CMP Group acquires MarineTech Products

(Delta, BC. March 9th, 2020) CMP Group Ltd (“CMP”), an Ironbridge portfolio company, is pleased to announce it has acquired MarineTech Products, Inc. based in Vadnais Heights, MN (“MarineTech”).

Founded in 2000, MarineTech started with a single proven product line, NAVIGATOR Engine mounted Electric Trolling Motors. Through hard work, strategic planning and solid industry partnerships, MarineTech has grown to five, well-established marine product brands including Panther™, TROLLMaster™, EZ-Steer®, Navigator® and Angler’s Pal, offering boaters hundreds of quality, innovative products.

CMP Group, headquartered in Vancouver, BC creates products and services for the marine industry that allow people to enjoy time on and around the water.  The Company has manufacturing operations in Vancouver & Toronto, Canada; Genoa, Italy; Norfolk, USA and Ningbo, China and has a product range that extends from marine corrosion, dock products, anchoring solutions to steering and controls. CMP’s respected brands include: Martyr™ sacrificial anodes, Dock Edge +® dock & boating solutions, Rocna® & Vulcan® anchors, Titan® Marine Products, Octopus® Autopilot Drive Systems, Intellisteer® Remote Steering Systems and Seaguard® corrosion protection systems.

The acquisition of MarineTech continues CMP’s strategy to grow its US presence and strengthens its position in the recreational marine industry.  “We are very excited about the strategic fit between MarineTech and CMP and believe that there are many advantages and opportunities for our customers, supply partners and our team” states Don Hambly, President & CEO, CMP Group. “MarineTech’s customer base and product offering are a perfect complement to CMP’s growing marine business.”

Larry Grundtner, founder and owner of MarineTech will remain with the combined entity to help ensure a smooth transition and continued success. He commented that “This is a tremendous opportunity for MarineTech and our customers.” explains Larry Grundtner.  “By joining forces with CMP, we will leverage the expertise and resources of CMP to take MarineTech to the next level.”

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:

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

Don Hambly
CEO
CMP Group Ltd.
(604) 952-2664
www.cmpgroup.net

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Thermogenics acquires Yown’s Boiler & Furnace Service

(Aurora, ON. March 6th, 2020) Thermogenics Inc. (“Thermogenics”), an Ironbridge portfolio company, is pleased to announce it has acquired Yown’s Boiler & Furnace Service, Inc. based in Jacksonville, FL (“Yown’s”).

Founded in 1979, Yown’s is a full service boiler and industrial process burner company, providing sales, service, installation, and repairs of boilers, pressure vessels, piping systems, and industrial combustion applications. The company is led by an experienced management team, and is regarded as an established regional player in the Southeast US.

Thermogenics is a leading North American manufacturer of coiled tube steam, hot water and thermal fluid boilers and related equipment. This product portfolio is primarily used within industrial, commercial and institutional applications, serving a variety of end markets including healthcare and hospitals, food and beverage and pharmaceutical. The company also provides best-in-class parts and 24/7 service support delivered via factory-trained technicians, and manages a fleet of unique rental boilers to serve temporary or emergency needs. With its comprehensive product and service offering, Thermogenics functions as a one-stop shop for all of its customers’ most complex steam and heating requirements. The company operates from its head office in Aurora, ON and maintains sales and service operations in Chicago, IL, Cincinnati, OH, and Ottawa, ON.

The acquisition of Yown’s pushes forward Thermogenics’ US growth strategy, and allows the company to establish a strong presence in the US Southeast.  “We are very excited about the strategic fit between Yown’s and Thermogenics and believe there are many opportunities for customers, product vendors, and employees,” states Ross Garland, CEO, of Thermogenics. “Yown’s’ impressive product vendor line up and long history of customer centered service and leadership in the US Southeast is a perfect complement to Thermogenics’ regional expansion efforts.”

Gary Yown, President and owner of Yown’s, will remain with the combined entity to help ensure a smooth transition and continued success. “This is a tremendous opportunity for our service customers, product vendors and employees,” explains Mr. Yown. “By joining forces with Thermogenics, we complement our existing product offering, expand the solution set we bring to customers in the region, and take Yown’s to the next level.”

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:

Jeff Murphy

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

Ross Garland
CEO
Thermogenics Inc
(416) 727-1901
www.thermogenics.com

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