M&A Deal Summary

Gentherm Acquires Etratech Enterprises

On November 1, 2017, Gentherm acquired electronics company Etratech Enterprises from Argosy Partners for 64M USD

Acquisition Highlights
  • This is Gentherm’s 1st transaction in the Electronics sector.
  • This is Gentherm’s largest (disclosed) transaction.
  • This is Gentherm’s 2nd transaction in Canada.
  • This is Gentherm’s 1st transaction in Ontario.

M&A Deal Summary
Date 2017-11-01
Target Etratech Enterprises
Sector Electronics
Buyer(s) Gentherm
Sellers(s) Argosy Partners
Deal Type Add-on Acquisition
Deal Value 64M USD
Advisor(s) Angle Advisors LLC (Financial)

Target

Etratech Enterprises

Burlington, Ontario, Canada
website
Etratech Enterprises, Inc. is a designer and manufacturer of custom electronic and electromechanical control systems, offering high-quality, low-cost solutions to multinational clients in the automotive, appliance, HVAC, recreational vehicle (RV), and marine industries. Etratech Enterprises, Inc. was established in 1989 and is based in Burlington, Ontario.

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Buyer(S) 1

Buyer

Gentherm

Northville, Michigan, United States

website

Category Company
Founded 1991
Sector Automotive
Employees11,000
Revenue 913M USD (2020)
DESCRIPTION
Gentherm's corporate headquarters in Northville, Michigan.
Gentherm's corporate headquarters in Northville, Michigan.

Gentherm develops, manufactures and markets proprietary high-technology products for the automotive and consumer products industries. Gentherm's products include the climate control seat which enhances individual driver and passenger comfort. Gentherm was formed in 1991 and is based in Northville, Michigan.

DEAL STATS #
Overall 3 of 4
Sector (Electronics) 1 of 1
Type (Add-on Acquisition) 3 of 3
State (Ontario) 1 of 1
Country (Canada) 2 of 2
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-31 Cincinnati Sub-Zero Products

Cincinnati, Ohio, United States

Cincinnati Sub-Zero Products, Inc. is a manufacturer of quality patient temperature systems for the health care industry and custom environmental test chambers used by a wide range of industrial manufacturing companies for product testing.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-01 Alfmeier - Automotive Business

Treuchtlingen, Germany

Alfmeier's Automotive Business provides automotive lumbar and massage comfort solutions.

Buy -

Seller(S) 1

SELLER

Argosy Partners

Toronto, Ontario, Canada

Investor

website

Category Private Equity Firm
Founded 1998
Size Small
Type Sector Agnostic
DESCRIPTION

Argosy Partners is a private equity firm that provides capital to small and medium-sized Canadian businesses. Argosy markets its services through its Shotgun and Succession funds. The Shotgun Fund is designed for time sensitive opportunities with company sales between $10 and $100 million. The Succession Fund is designed to allow business owners to partially liquidate ownership. Industry sectors of interest include manufacturing, distribution, and service. Arogosy Partners was formed in 1998 and is based in Toronto.

DEAL STATS #
Overall 3 of 4
Sector (Electronics) 1 of 1
Type (Add-on Acquisition) 2 of 3
State (Ontario) 2 of 3
Country (Canada) 2 of 3
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-26 Insception Lifebank

Mississauga, Ontario, Canada

Insception Lifebank engages in the research and development of stem cell-based treatments in Canada. Insception Lifebank was founded in 1996 and is based in Mississauga, Ontario.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-18 Celtrade Canada

Mississauga, Ontario, Canada

Celtrade Canada, Inc. is a private label and contract manufacturer of custom sauces, dressings, and condiments for retail and foodservice customers. Celtrade operates a 56,000 square foot, Safe Quality Food (“SQF”) certified facility in Toronto, Canada.

Sell -
Mergr

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