M&A Deal Summary

Ironbridge Equity Partners Acquires Advance Engineered Products

On October 1, 2015, private equity firm Ironbridge Equity Partners acquired automotive company Advance Engineered Products from Parallel49 Equity

Acquisition Highlights
  • This is Ironbridge Equity Partners’ 2nd transaction in the Automotive sector.
  • This is Ironbridge Equity Partners’ 12th transaction in Canada.
  • This is Ironbridge Equity Partners’ 4th transaction in Saskatchewan.
Investment Fate
  • Advance Engineered Products was sold to a publicly-traded strategic buyer in 2024.

M&A Deal Summary
Date 2015-10-01
Target Advance Engineered Products
Sector Automotive
Buyer(s) Ironbridge Equity Partners
Sellers(s) Parallel49 Equity
Deal Type Secondary Buyout

Target

Advance Engineered Products

Regina, Saskatchewan, Canada
Advance Engineered Products is a tank trailer and vacuum truck manufacturer and service center operator. It currently operates three distinct businesses: (i) designing and manufacturing aluminum and stainless steel truck tanks and trailers under the Advance and Lazer Inox brands; (ii) operating service centers for the repair, maintenance, inspection and certification of truck tanks and trailers; and (iii) manufacturing and servicing vacuum trucks under the Westech brand. Advance Engineered Products was founded in 19845 and is based in Regina, Saskatchewan.

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Buyer(S) 1

Buyer

Ironbridge Equity Partners

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 700M CAD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Ironbridge Equity Partners (IEP) is a private equity investor in middle-market Canadian companies. IEP targets profitable companies with motivated management, 'history of positive earnings strong competitive positions within industry niche, and opportunities growth (organic or through acquisitions). IEP looks to invest at least $15 million in transactions valued up to $50 million. Areas of interest include manufacturing, distribution, consumer products/services, and business services. The Firm will not invest in real estate, natural resources, and technology. Ironbridge Equity Partners was formed in 2005 and is based in Toronto.

DEAL STATS #
Overall 12 of 29
Sector (Automotive) 2 of 4
Type (Secondary Buyout) 1 of 5
State (Saskatchewan) 4 of 5
Country (Canada) 12 of 29
Year (2015) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-01 Dumur Industries

White City, Saskatchewan, Canada

Dumur Industries is a custom manufacturing, metal fabrication, and machining business specializing in the production of ventilation and cabinet systems for the food preparation industry. Dumur Industries was founded in 1987 and is based in White City, Saskatchewan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-15 Gaspard & Sons

Winnipeg, Manitoba, Canada

Gaspard & Sons Ltd. is a manufacturer and distributor of academic regalia, clergy vestments, choral robes, and legal and judicial attire. The Company’s products are primarily sold direct-to-user in Canada, while the U.S. market is served via a combination of company and independent representatives.

Sell -

Seller(S) 1

SELLER

Parallel49 Equity

Vancouver, British Columbia, Canada

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1996
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Parallel49 Equity is a private equity firm that invests in mid-sized companies in Canada and the US. The Firm concentrates its investment efforts in the Western and Mid-western regions of both countries. Target businesses generally have enterprise values of $25 to $150 million and are profitable with $5 to $30 million of EBITDA. Parallel49 pursues acquisitions of public or private companies, management-led buyouts, recapitalizations and sales of subsidiaries of larger companies. Broad areas of interest include manufacturing, service, and distribution. Parallel49 will not invest in start-ups, new technologies, turnarounds or companies active in real estate development, gaming, restaurant or primary resource sectors. Parallel49 was formerly known as Tricor Pacific Capital. The Firm has offices in Vancouver, British Columbia, and Chicago, Illinois.

DEAL STATS #
Overall 13 of 22
Sector (Automotive) 1 of 1
Type (Secondary Buyout) 2 of 7
State (Saskatchewan) 1 of 1
Country (Canada) 10 of 11
Year (2015) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-01 Gold Standard Baking

Chicago, Illinois, United States

Gold Standard Baking is a full-service bakery specializing in a variety of laminated dough products including croissants, danishes and other sweet baked goods, which are sold through multiple channels in the food industry. Gold Standard Baking was established in 1987 and is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-08 CPI Card

Littleton, Colorado, United States

CPI Card is a provider of comprehensive financial payment card solutions in North America. CPI produces financial payment cards, provides integrated card services to card-issuing banks, and personalizes financial payment cards as well. CPI's customers are primarily national and regional banks, independent community banks, credit unions, managers of prepaid debit programs, group service providers, and card processors. CPI Card was founded in 2007 and is based in Littleton, Colorado.

Sell -
Mergr

Product

Company

Legal