M&A Deal Summary

Walter Capital Partners Acquires Averna

On April 6, 2021, private equity firm Walter Capital Partners acquired electronics company Averna from Tandem Expansion Fund

Acquisition Highlights
  • This is Walter Capital Partners’ 1st transaction in the Electronics sector.
  • This is Walter Capital Partners’ 11th transaction in Canada.
  • This is Walter Capital Partners’ 8th transaction in Quebec.

M&A Deal Summary
Date 2021-04-06
Target Averna
Sector Electronics
Buyer(s) Walter Capital Partners
Sellers(s) Tandem Expansion Fund
Deal Type Secondary Buyout

Target

Averna

Montreal, Quebec, Canada
website
Averna is a manufacturing solution provider for communications and electronics device-makers worldwide, helping them deliver a better end-user customer experience. Key Averna clients in the communications, aerospace, defense, automotive, consumer electronics, and medical device industries use Proligent, RF Test instruments, and other test solutions to accelerate product development, reduce manufacturing costs, achieve superior quality throughout the lifecycle, and solve critical supply-chain issues. It has offices around the world as well as a network of partners such as JOT Automation, Keysight Technologies, and National Instruments. Averna was founded in 1999 and is based in Montreal, Quebec.

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Buyer(S) 1

Buyer

Walter Capital Partners

Investor Investor Investor

website

Category Private Equity Firm
Founded 2015
Size Small
Type Sector Agnostic
DESCRIPTION

Walter Capital Partners is a private investment group focused on public and private company investments. Within private equity, Walter seeks direct investments in growth-oriented companies where it can work alongside management to pursue growth strategies. Walter Capital Partners is based in Westmount, Quebec.

DEAL STATS #
Overall 12 of 17
Sector (Electronics) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Quebec) 8 of 12
Country (Canada) 11 of 16
Year (2021) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-16 MEDFAR Clinical Solutions

Montreal, Quebec, Canada

MEDFAR Clinical Solutions is a specialized provider of electronic medical records (“EMRs”). With the support of experts from its medical and clinical advisory board, the MEDFAR team evolved its solution, MYLE (for Make Your Life Easy), from a simple EMR to a powerful end-to-end Care Management Solution that streamlines each and every clinical process, freeing caregivers from the burden of administrative tasks and helping them achieve more. MEDFAR Clinical Solutions was founded in 2010 and is based in Montreal, Quebec.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-06 Clareo

Laval, Quebec, Canada

Clareo is a network of dental clinics located in several regions across Quebec. Clareo offers a full range of local services both generalist and specialist that are at the leading edge of dental practices and meet the highest quality standards. Clareo is based in Laval, Quebec.

Buy -

Seller(S) 1

SELLER

Tandem Expansion Fund

Toronto, Ontario, Canada

website

Category Growth Capital Firm
Founded 2009
Size Small
Type Sector Focused
DESCRIPTION

Tandem Expansion is a private growth capital fund seeking to invest in small to mid-sized tech businesses in Canada. Specific areas of interest include IT (hardware, software, service), clean tech, energy/resource, technology, advanced materials, and life science. The Firm looks to invest $10 to $30 million in fast growing businesses with $5 to $50 million in revenues. Investment proceeds are typically used to fund organic growth or provide acquisition capital. Tandem was formed in 2009 and is based in Montreal, Québec.

DEAL STATS #
Overall 6 of 7
Sector (Electronics) 1 of 1
Type (Secondary Buyout) 3 of 3
State (Quebec) 2 of 2
Country (Canada) 6 of 7
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-18 Lithion Group

Calgary, Alberta, Canada

Lithion Group engages in business of designing, developing, manufacturing, and selling primary lithium thionyl chloride, lithium sulfuryl chloride, lithium CFX, and lithium CFX Mno2 cells and packs. Lithion Power Group manufactures non-rechargeable primary lithium cells specifically designed to work in high vibration/shock environments with temperature ratings of up to 225°C. Lithion Group was founded in 1998 and based in Calgary, Alberta.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-23 Anaergia

Burlington, Ontario, Canada

Anaergia provides anaerobic digestion and the production of clean energy, fertilizer, and recycled water from organic waste streams. The company sells capital equipment and turnkey solutions internationally, and also has a growing portfolio of power generation and waste treatment facilities which it owns and operates. Anaergia is based in Burlington, Ontario.

Sell -
Mergr

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