News

(Toronto – November 15, 2022) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario, is pleased to announce that they have acquired a controlling interest in King’s Pastry (“King’s Pastry” or the “Company”) in partnership with the existing owners and management team.

King’s Pastry, based in Mississauga, Ontario, is a leading manufacturer of sweet and indulgent bakery products. From its modern facility in Mississauga, the Company manufactures cakes, pastries, and other desserts for grocery, club, mass merchant, and food service distribution clients throughout Canada and the United States.

“King’s Pastry has an impressive track record of quality and product innovation which has allowed the Company to develop strong relationships with a diverse set of blue-chip customers,” said Jeff Murphy, Managing Partner at Ironbridge. “Management has built a great pipeline of new customer and product opportunities, and we are confident we can support them in their growth plans.”

“We are excited to have found a partner for King’s Pastry that shares our strategic vision for the future of the Company,” said Katty Ho, VP of Business Development for King’s Pastry. “We are looking forward to working with Ironbridge during our next chapter of growth.”

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 $700 million including its fourth private equity fund, Ironbridge Equity Partners IV, LP, a fully committed $383 million fund raised in November 2021.

For more information, contact:

Jeff Murphy
Managing Partner
Ironbridge Equity Partners
(416) 902-1408
www.ironbridgeequity.com

Katty Ho
VP, Business Development
King’s Pastry Inc.
(647) 300-8819
www.kingspastry.com

(Montreal – November 1, 2022) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario, is pleased to announce that, in partnership with management, it has closed the previously announced acquisition of Walker Glass Company Ltd. (“Walker Glass” or the “Company”).

Walker Glass, based in Montreal, QC, is a market leader in acid-etched glass, premium mirror products, and innovative bird-friendly glazing. The Company is uniquely positioned within the glass market as a value-added processor of raw materials which are treated in-house through proprietary processes to create the highest quality products for both interior and exterior glazing applications. Founded in 1942, Walker Glass has grown to 125 employees and sells product across North America.

“Walker Glass’s breadth of in-house capabilities, North American sales and distribution network, and strong research and development experience are impressive,” said Peter Samson, Managing Partner at Ironbridge. “The Company has an excellent reputation for high quality and innovative products, which we believe creates an excellent opportunity for future growth.”

“We have developed a strong platform over the years and look forward to working with the Ironbridge team to continue growing while maintaining our dedication to quality and innovation,” said Lee Harrison, President and CEO of Walker Glass. “The entire team at Walker Glass is very pleased to bring on board such a strategic and engaged new partner.”

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 $700 million including its fourth private equity fund, Ironbridge Equity Partners IV, LP, a fully committed $383 million fund raised in November 2021.

For more information, contact:

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

Lee Harrison
President & CEO
Walker Glass Company Ltd.
(514) 352-3030
www.walkerglass.com

(Toronto – October 26, 2022) Ironbridge Equity Partners (“Ironbridge”) is pleased to announce that, together with management, it has acquired a controlling interest in North American Produce Buyers Limited (“NAPB” or the “Company”).

Based in Toronto, Ontario, NAPB is a leading importer and distributor of premium fruit including table grapes, stone fruit, citrus fruit, and berries serving retailers and grocers across Canada. Operating from the Ontario Food Terminal, the Company imports fruit from Chile, Peru, South Africa, the US, and many other countries to ensure a robust supply of year-round produce. 

“NAPB has established itself as the premier independent supplier of premium fruit in the Canadian market,” said Andrew Walton, Managing Partner at Ironbridge. “We are thrilled to have the opportunity to partner with Larry and his experienced management team to support the Company’s next chapter of growth.”

“Ironbridge has a stellar track record of success, and this transaction brings a trustworthy partner to the table,” said Larry Davidson, CEO of NAPB. “We look forward to working with them to continue delivering the highest quality of service to our customers and growers.”

For more information, contact:

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

Larry Davidson
CEO
North American Produce Buyers limited
(416) 255-4436
www.naproduce.com

(Toronto, October 4, 2022) GNI Management Group Inc. (“GNI”), an Ironbridge portfolio company, is happy to announce the acquisition of St-Esprit-based Isolation Majeau et frère (“IMF”), a leading insulation provider for Montreal and the surrounding area.

“The team at Isolation Majeau impressed us immediately with their attention to detail and professionalism” said Bill Maginas, CEO of GNI. “Our partnership with IMF provides us with the opportunity to bring GNI’s expertise to the Quebec marketplace while expanding IMF’s capabilities.”

“We’re excited for the opportunities that joining GNI will bring,” said Marcel Lapierre, Owner/Operator of IMF. “GNI has been major player in Canada’s construction industry for decades, and their expertise in both the residential and commercial markets will allow us to grow considerably.”

The acquisition of IMF is the first time GNI Management Group Inc. has expanded beyond Ontario since its foundation in 1980.

“Our mission is to build safer, more energy efficient and sustainable communities Canada-wide,” said Maginas. “IMF, with Marcel and his team, represent the talent we will continue to seek out in order to become Canada’s leader in insulation and building science services.”

Ironbridge Equity Partners, GNI Management Group Inc.’s ownership company, is a team of fourteen investment professionals that invest 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 operational experience and works closely with the management of its portfolio of companies to enhance value.

For more information, contact:

Bill Maginas
CEO
GNI Management Group Inc.
bmaginas@gni.ca
gni.ca

Jeff Murphy
Managing Partner
Ironbridge Equity Partners
www.ironbridgeequity.com

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(Toronto, 4 octobre 2022) GNI Management Group Inc. (“GNI”) une société du portefeuille d’Ironbridge, est heureux d’annoncer l’acquisition de la société Isolation Majeau et frère (“IMF”), basée à Saint-Esprit, un fournisseur d’isolation de premier plan pour Montréal et ses environs.

“L’équipe d’Isolation Majeau nous a immédiatement impressionnés par son souci du détail et son professionnalisme”, a déclaré Bill Maginas, PDG de GNI. “Notre partenariat avec IMF nous donne l’occasion d’apporter l’expertise de GNI sur le marché québécois tout en élargissant les capacités d’IMF”.

“Nous sommes enthousiastes à l’idée des opportunités qu’apportera le rapprochement à GNI”, a déclaré Marcel Lapierre, propriétaire/exploitant d’IMF. “GNI est un acteur majeur de l’industrie de la construction au Canada depuis des décennies, et son expertise sur les marchés résidentiels et commerciaux nous permettra de nous développer considérablement”.

Avec l’acquisition d’IMF, il s’agit de la première fois que GNI Management Group Inc. s’étend au-delà de l’Ontario depuis sa fondation en 1980.

“Notre mission est de construire des communautés plus sûres, plus efficaces sur le plan énergétique et plus durables à travers le Canada”, a déclaré Maginas. “FMI, avec Marcel et son équipe, représente le talent que nous continuerons à rechercher afin de devenir le chef de file canadien des services d’isolation et de science du bâtiment”.

Ironbridge Equity Partners, la société propriétaire de GNI Management Group Inc., est une équipe de quatorze professionnels de l’investissement qui investissent dans des entreprises canadiennes du marché intermédiaire inférieur exerçant leurs activités dans un large éventail de secteurs, notamment la fabrication, la distribution et les produits et services destinés aux consommateurs et aux entreprises. Ironbridge possède une vaste expérience financière et opérationnelle et travaille en étroite collaboration avec la direction de son portefeuille d’entreprises pour en accroître la valeur.

Pour plus d’informations, veuillez contacter :

Bill Maginas
PDG
GNI Management Group Inc.
bmaginas@gni.ca
gni.ca

Jeff Murphy
Associé Directeur
Ironbridge Equity Partners
www.ironbridgeequity.com

(Toronto – September 15, 2022) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have completed the sale of Back in Motion Rehab Inc. (“Back in Motion” or the “Company”) to an entity controlled by Yorkville Asset Management Inc. (“Yorkville”).

The financial terms of the transaction were not disclosed.

Over the course of its investment, Ironbridge supported management’s efforts to build out their program capabilities and geographic presence across the greater Vancouver area.

“The Back in Motion team were excellent partners and have worked hard to strengthen, diversify, and expand their service offerings to clients.  The past two years have been a difficult period for the entire industry and the team has persevered and succeeded,” said Peter Samson, Managing Partner at Ironbridge. “We wish them all the best in their new partnership with Yorkville”

“Ironbridge was a great partner for Back in Motion. They stood by us during a very difficult time for our organization and it is thanks to the strong partnership that we were able to successfully tackle the challenges we faced.” said Philippe De Clerck. “We are grateful for the support we received from the Ironbridge team and are excited for this next chapter with Yorkville.”

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.

About Back In Motion:

Back in Motion is a leading provider of employment, rehabilitation and physiotherapy services. For over 25 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 300 dedicated, enthusiastic people, it serves communities across Metro Vancouver.

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 $700 million including its fourth private equity fund, Ironbridge Equity Partners IV, LP, a fully-committed $383 million fund raised in November, 2021.

For more information, contact:
Peter Samson
Managing Partner
Ironbridge Equity Partners
(416) 863-0102
www.ironbridgeequity.com

Philippe De Clerck
CEO
Back in Motion Rehab Inc.
(604) 233-2200
www.backinmotion.com

(Toronto, September 8, 2022) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario, is pleased to announce that they, together with management, have acquired a controlling interest in Handi Foods Ltd. (“Handi” or the “Company”).

Handi, based in Toronto, Ontario, is the largest private-label manufacturer of pita snacks in North America. Through its two highly modernized facilities in North York, the Company manufactures and sells a wide variety of savoury and sweet pita-based snacks to leading grocers, mass-merchants, and consumer packaged goods companies across the US and Canada.

“Since entering the snack category, Handi has demonstrated the ability to consistently deliver growth through best-in-class product quality, innovation, and customer service,” said Jeff Murphy, Managing Partner at Ironbridge. “We look forward to working with management to support the Company during its next chapter of growth.”

“This is a major inflection point for Handi Foods. We have a great team that is energized to perform with the added capital and expertise that Ironbridge brings to the table,” said Brian Arbique, CEO of Handi.

KPMG Corporate Finance Inc. served as exclusive financial advisor to Handi.

For more information, contact:
Jeff Murphy
Managing Partner
Ironbridge Equity Partners
(416) 863-0107
www.ironbridgeequity.com

Brian Arbique
CEO
Handi Foods Ltd.
(416) 743-6634
http://handifoods.com

(Montreal, August 9, 2022) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have acquired a controlling interest in Kore Outdoor Inc. (“Kore” or the “Company”) from Fulcrum Capital Partners.

Kore, based in Montreal, Quebec, is the leading manufacturer and distributer of paintballs and paintball-related products globally. Through its manufacturing facilities in Montreal and Fort Wayne, and a network of distribution centers across North America and Europe, the Company offers its comprehensive portfolio of products to game fields, specialty retailers, e-commerce, and mass retailers in over 70 countries.

“Kore is the worldwide leader in paintball, with a broad range of well-known and innovative brands,” said Peter Dowse, Managing Partner at Ironbridge. “We are excited to support the Company’s management team as they promote the continued growth of the industry.”

“Ironbridge has a strong track record of enabling and driving businesses like Kore forward,” said Billy Ceranski, CEO of Kore. “We look forward to this strategic partnership, and will collaborate with Ironbridge to drive growth and continue our culture of innovation.”

For more information, contact:
Peter Dowse
Managing Partner
Ironbridge Equity Partners
(416) 863-0106
www.ironbridgeequity.com

Billy Ceranski
CEO
Kore Outdoor Inc.
(954) 834-6244
www.koreoutdoor.com

(Toronto – June 8, 2022) Ironbridge Equity Partners (“Ironbridge”) is pleased to announce that it, together with certain other minority investors, has completed the sale of Thermogenics Inc. (“Thermogenics”) to an entity controlled by Audax Private Equity (“Audax”).

The financial terms of the transaction were not disclosed.

Over the course of its investment, Ironbridge supported management’s efforts to expand the Canadian presence of Thermogenics, establish a U.S. footprint via acquisitions and greenfield growth, and improve internal systems and processes.

“We were very pleased to have partnered with Ross and the Thermogenics management team, who did an exceptional job of both driving growth and navigating through unprecedented economic upheaval,” said Jeff Murphy, Managing Partner at Ironbridge. “We wish them continued success in their new partnership with Audax.”

“Ironbridge was a great partner for the Thermogenics team,” said Ross Garland, CEO of Thermogenics. “They combined valuable insight with an appreciation for operational opportunity and challenge as we executed our strategic growth plan. We thank the Ironbridge team for their support and are excited about the next chapter of growth with Audax.”

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

About Thermogenics:

Thermogenics is leading North American manufacturer of coil-tube steam, hot-water and thermal fluid boilers used in industrial, commercial, and institutional applications. Thermogenics also provides parts and services to other market participants.

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 $700 million, including its fourth private equity fund, Ironbridge Equity Partners IV, LP, a fully committed $383 million fund raised in November 2021.

For more information, contact:
Jeff Murphy
Managing Partner
Ironbridge Equity Partners
(416) 863-0107
www.ironbridgeequity.com

Ross Garland
CEO
Thermogenics Inc.
(905) 727-1901
www.thermogenicsboilers.com

(Toronto, March 9, 2022) GNI Management Group Inc. (“GNI”), an Ironbridge portfolio company, is pleased to announce the acquisition of St Catharine’s based Moore Insulation Ltd. (“Moore”), a regional provider of insulation to the Niagara region’s new-build market.

“We’re very pleased to partner with Moore – Niagara was a gap for us, and this acquisition will allow us to tap into that fast-growing market,” said Bill Maginas, CEO of GNI. “As most of Moore’s focus has been on servicing builders, this partnership will give us access to and deep knowledge of the new home market while allowing us to better service the Niagara region’s retrofit segment which has been GNI’s primary focus historically.”

“We are excited to join GNI,” said Phil Moore, President of Moore. “GNI’s purchasing power for raw materials will alleviate some of our recent challenges in securing product. Not only will the move give us access to GNI’s retrofit business, their size and operations throughout Ontario provide additional capacity to serve our customers even better.”

Phil Moore will continue in his role as GNI’s branch manager in the Niagara region.

The acquisition is a key step in GNI’s strategic expansion across Ontario, helping meet its goal of providing best-in-class coverage across the province.

“This eighth location will allow GNI to continue to grow in Ontario,” said Maginas. “We will continue to look for opportunities with companies like Moore as we look to expand throughout Canada and become a national leader in insulation services.”

The Ironbridge team of thirteen 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:
Jeffrey Murphy
Partner
Ironbridge Equity Partners
(416) 863-0107
ironbridgeequity.com

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

(Toronto – November 9, 2021) Ironbridge Equity Partners (“Ironbridge”) today announced that it has completed the first and final closing of its fourth private equity fund, Ironbridge Equity Partners IV, LP (the “Fund” or “Fund IV”). Ironbridge raised C$383 million from investors in Canada, the US, the UK and Continental Europe, and significantly surpassed its target of C$300 million. The Fund represents a 61% increase in capital from its predecessor fund, Ironbridge Equity Partners III, LP (“Fund III”) which had its final closing in April 2016. Substantially oversubscribed, Fund IV closed above its original hard cap of C$325 million and brings Ironbridge’s assets under management to over C$700 million.

Alan Sellery, President and Managing Partner of Ironbridge commented, “We are delighted with the success of this fundraise and the strong support we received from both existing and new investors. The interest in Ironbridge is a testament to the team’s ability to successfully execute the investment strategy that has been pursued since our founding in 2005. We will continue to build market-leading companies in the Canadian middle market and look forward to delivering more outstanding deals for our investors in Fund IV.”

“Ironbridge is also pleased to announce the promotions of Peter Dowse, Jeff Murphy, and Andrew Walton to Managing Partner,” stated Sellery. “These promotions are a recognition of the dedication and significant contributions Peter, Jeff, and Andrew have made to the success of Ironbridge. They each bring a long tenure with the firm, and their leadership and commitment have helped shape it into what Ironbridge is today.” Peter Samson, Managing Partner added, “Ironbridge has grown considerably over the years, enabled by their important efforts. They lead by example and embody Ironbridge’s core values.”

Ironbridge invests in a broad range of industries including manufacturing, distribution, and consumer and business products and services. Ironbridge’s thirteen 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
President and 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
http://www.elmcapital.com

(Toronto – September 22, 2021) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have completed the sale of Alliance Corporation (“Alliance” or the “company”) to an entity controlled by Lee Equity Partners (“Lee”) and Twin Point Capital (“Twin Point”).

The financial terms of the transaction were not disclosed.

Over the course of its investment, Ironbridge supported management’s efforts to build out a significant U.S. presence, expand cable termination capabilities, and improve internal systems and processes.

“The Alliance management team were exceptional partners and did an impressive job executing the growth strategy,” said Andrew Walton, Partner of Ironbridge. “We are grateful for the collaborative partnership with management over the last six years and wish them all the best in their new partnership with Lee and Twin Point.”

“Ironbridge was a great partner for the Alliance management team,” said Ron Moss, President and CEO of Alliance. “They provided valuable insights and guidance as we executed our strategic plan and navigated the strong growth experienced by the business. We thank the Ironbridge team for their support and are excited for the next chapter.”

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

About Alliance:

Alliance is Canada’s largest value-added distributor of wireless communications technology and is one of the fastest growing distributors in the United States, providing mission-critical solutions to the leading wireless carriers across North America. As one of only two scaled North American distributors with cable termination capabilities, the company supports the construction, maintenance, and upgrade of cellular towers, indoor cellular service, and broadband internet.

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

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

(Toronto – September 1, 2021) We are pleased to announce the promotions of Riley Anderson and Muhammad Abdi to Senior Associate.

Riley joined Ironbridge as an Associate in 2019. He currently serves as an observer on the boards of Hank’s Maintenance & Service Co. and Dumur Industries. Riley holds a Bachelor of Business Administration from the University of Regina and a Master of Business Administration from the Richard Ivey Business School. He is also a CFA Charterholder.

Muhammad joined Ironbridge as an Associate in 2019. He serves as a director of Thermogenics Inc., and as an observer on the boards of Midland Appliance Ltd. and AV Gauge & Fixture Inc. Muhammad holds an Honours Bachelor of Science degree with a specialization in Economics and Mathematics from the University of Toronto.

(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

(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

(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

(Toronto, July 22, 2020) Ironbridge Equity Partners is pleased to announce the rejoining of Ali R. Akbar as Principal.

Ali brings extensive experience across private equity, management consulting, and investment banking. Over the past 3 years, Ali was at Bain & Company in both New York and London, where he advised private equity and corporate clients on commercial due diligence, merger integration, and value creation & performance improvement across a variety of industries. Prior to Bain, Ali was a Vice President at Ironbridge, where he was involved in new investment opportunities and supporting portfolio company growth. Ali began his career at KPMG Corporate Finance, focusing on mid-market M&A and capital advisory.

Ali holds an MBA from London Business School and a Bachelor of Commerce degree from McGill University, where he graduated with Great Distinction.  Ali is also a Chartered Accountant.

For more information, contact:

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

(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

(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

(Toronto – August 8, 2019) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have acquired the assets of MBRP Inc., which will continue operations as MBRP Ltd. (“MBRP” or the “Company”).

MBRP, headquartered in Huntsville, Ontario, is a leading designer and manufacturer of high-performance exhaust systems for the automotive and recreational vehicle markets, including diesel and gas trucks, muscle cars, snowmobiles and ATVs. Founded in 1999, the Company provides performance vehicle enthusiasts with a large assortment of high-quality, innovative products such as full exhaust kits/systems, exhaust pipes, mufflers and exhaust tips. With a staff of over 120 employees operating from its manufacturing facility in Huntsville, MBRP serves a network of warehouse distributor, retailer and e-commerce customers across Canada and the United States.

“With a proven track record of success in working with owner-operator businesses like ours, we are thrilled to work with the Ironbridge team to further scale and grow our business,” said MBRP Chief Executive Officer, Martin Barkey. “MBRP is very pleased to bring on board a partner in Ironbridge who shares our vision for the future.”

“MBRP has established a great reputation in a community of loyal and passionate consumers,” said Peter Dowse, Partner at Ironbridge. “We are excited about the opportunity to work with a management team with so much enthusiasm for their product, and look forward to supporting meaningful growth for the business.”

Ironbridge is investing in MBRP through the firm’s most recent fund: Ironbridge Equity Partners III, LP, 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:

Peter Dowse
Partner
Ironbridge Equity Partners
(416) 863-0106

www.ironbridgeequity.com

Martin Barkey
Chief Executive Officer
MBRP Ltd.
(705) 788-2845
www.mbrp.com

(Toronto – July 16, 2019) We are pleased to announce the promotion of Anthony Creo and Connor Kingston to Vice President.

Anthony joined Ironbridge as an Associate in 2015 and was promoted to Senior Associate in 2017. He currently serves as a director of Dumur Industries, AV Gauge & Fixture Inc., Advance Engineered Products Limited and GPS Products Inc. Anthony holds an Honours Business Administration degree from the Richard Ivey Business School where he graduated with distinction. He is also currently pursuing his CFA designation.

Connor joined Ironbridge as an Associate in 2015 and was promoted to Senior Associate in 2017. He currently serves as a director of Thermogenics Inc., LaFrentz & Christenson Trucking Ltd. and Hank’s Maintenance and Service Co. Ltd., and is an observer on the boards of Alliance Corporation, Midland Appliance Ltd. and M&M Resources Inc. Connor holds a Master of Accounting and a Bachelor of Mathematics, specializing in Accounting and Finance, both from the University of Waterloo. He is also qualified as a Chartered Professional Accountant.