Tag - 2017

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

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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

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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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