M&A Deal Summary

Horstman Acquires General Kinetics

On January 30, 2023, Horstman acquired automotive company General Kinetics from CIEL Capital

Acquisition Highlights
  • This is Horstman’s 1st transaction in the Automotive sector.
  • This is Horstman’s 1st transaction in Canada.
  • This is Horstman’s 1st transaction in Ontario.

M&A Deal Summary

Date 2023-01-30
Target General Kinetics
Sector Automotive
Buyer(s) Horstman
Sellers(s) CIEL Capital
Deal Type Add-on Acquisition

Target

General Kinetics

Brampton, Ontario, Canada
General Kinetics is a manufacturer and supplier of dampers, shock absorbers, hydro-pneumatic suspensions, semi active damping systems, coil over dampers, blast mitigation damping systems and seat suspension dampers for military vehicles, both tracked and wheeled, and off-highway machines used in the construction, material handling, forestry, mining and agriculture markets. General Kinetics was founded in 1981 and is based in Brampton, Ontario.

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Buyer(S) 1

Buyer

Horstman

Bath, United Kingdom

Category Company
Founded 1913
Sector Automotive
Revenue 90M EUR (2022)
DESCRIPTION

Horstman combines simulation, design, and manufacturing capabilities and delivers mobility solutions for the hardest challenges of global wheeled and armored markets. With the addition of experienced employees and five decades of lean manufacturing expertise of General Kinetics, Horstman was formed in 1913 and is based in Bath, United Kingdom.


DEAL STATS #
Overall 1 of 1
Sector: Automotive M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Ontario M&A 1 of 1
Country: Canada M&A 1 of 1
Year: 2023 M&A 1 of 1

Seller(S) 1

SELLER
DESCRIPTION

CIEL Capital is a family operated private equity firm that seeks majority investment in medium-sized niche businesses based in Canada. CIEL Capital is focused on successful companies with EBITDA of $3 to $20 million with proprietary, differentiated, or branded products and services. Industries of interest typically include business services, distribution, manufacturing, consumer products, software, and technology. Investment situations of interest include founders seeking liquidity, recapitalizations, management buyouts, and corporate divestitures. The Firm will not invest in hospitality, real estate, resource extraction, or start-up businesses. CIEL Capital was founded in 2012 and is based in Toronto, Ontario.


DEAL STATS #
Overall 1 of 1
Sector: Automotive M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Ontario M&A 1 of 1
Country: Canada M&A 1 of 1
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-01 McRae Imaging

Mississauga, Ontario, Canada

McRae Imaging provides format printing and visual display solutions, with a focus on fabric printing, custom lightboxes, silicone-edged graphics (SEG), aluminum frame structures, and display/fixture work for retail, exhibitions, and event. McRae was founded in 1965 and is based in Mississauga, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-01 Pickard Utility Services Group

Owen Sound, Ontario, Canada

Pickard Utility Services Group provides utility-infrastructure construction, maintenance and engineering services, including trenching, conduit installation, directional drilling, hydrovac excavation, rock drilling, aerial line work, submarine cabling, and other utility-related works. Pickard Utility Services Group was founded in 1979 and is based in Owen Sound, Ontario.

Buy -