Tag - 2024

(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

(Toronto – April 1, 2024) GNI Management Group Inc. (“GNI”), an Ironbridge portfolio company, is happy to announce the acquisition of St. Cloud, Minnesota based McPherson Products (“McPherson”), a leading provider of insulation services for St. Cloud and the surrounding lake region.

“Partnering with McPherson made sense for GNI strategically – we targeted the St. Cloud region to tap into its resilient custom new-home market,” said Bill Maginas, CEO of GNI. “Our partnership with McPherson allows us to bring GNI’s expertise to the Minnesota marketplace while strengthening McPherson’s capabilities.”

“GNI’s expertise in the residential market and advanced operating systems will enable us to serve our customers even better and lead to significant growth,” said Dennis Dufner, Owner of McPherson.

Dennis Dufner will remain in his role as branch manager, for GNI, in the St. Cloud region and the business will continue to operate as McPherson Products.

This acquisition marks a pivotal milestone in GNI’s strategic expansion into the United States, aligning with its goal to deliver top-tier coverage across North America. The acquisition of McPherson marks the first time GNI Management Group Inc. has expanded outside of Canada since its foundation in 1980.

“While McPherson now serves as our tenth location, it is our first location in the United States,” emphasized Maginas. “We remain committed to exploring opportunities with companies like McPherson as we actively pursue expansion into the United States and strive to become a prominent North American leader in insulation services.”

The Ironbridge team of fourteen 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:

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

Jeff Murphy
Managing Partner
Ironbridge Equity Partners
ironbridgeequity.com

(Toronto – January 12, 2024) Ironbridge Equity Partners (“Ironbridge”), through its portfolio investment Walker Glass Company Ltd. (“Walker Glass”), is pleased to announce the acquisition of North Carolina based Gardner Glass Products Inc. (“Gardner Glass”), one of the United States’ leading decorative glass and mirror manufacturers for commercial interiors.

Like Walker, Gardner has a proud history of growth and innovation based on solid core values. Founded in 1962, Gardner Glass Products started as a mirror manufacturer. Over the years, Gardner expanded its product offering to include a variety of decorative glass products under its Dreamwalls brand. Although both companies will continue to operate as independent entities, senior management in both organizations see tremendous growth opportunities under one umbrella.

Walker’s CEO Lee Harrison goes on to say, “Our combined market leadership positions, diverse geographic locations and complimentary offerings will fuel exceptional growth for both firms in the years to come.”

“The entire team at Gardner is thrilled to work with Ironbridge and Walker on our future growth objectives. We see tremendous synergies and growth opportunities for both organizations,” states President Randy Brooks.

Pete Samson, Ironbridge’s Managing Partner, states, “We’re very excited to have Randy and the Gardner team in the Ironbridge fold along with the folks at Walker.”

The Ironbridge team of fourteen 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. Walker Glass is the fourth investment in Ironbridge’s 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