M&A Deal Summary

Ironbridge Equity Partners and Westerkirk Capital Acquire Gaspard & Sons

On May 4, 2009, private equity firm Ironbridge Equity Partners and asset manager Westerkirk Capital acquired apparel/textiles company Gaspard & Sons

Acquisition Highlights
  • This is Ironbridge Equity Partners’ 1st and Westerkirk Capital’s 1st transaction in the Apparel/Textiles sector.
  • This is Ironbridge Equity Partners’ 3rd and Westerkirk Capital’s 2nd transaction in Canada.
  • This is Ironbridge Equity Partners’ 1st and Westerkirk Capital’s 1st transaction in Manitoba.
Investment Fate
  • Gaspard & Sons was sold to a strategic buyer in 2015.

M&A Deal Summary

Date 2009-05-04
Target Gaspard & Sons
Sector Apparel/Textiles
Buyer(s) Ironbridge Equity Partners
Westerkirk Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

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.

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Buyer(S) 2

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 3 of 29
Sector: Apparel/Textiles M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 3 of 16
State: Manitoba M&A 1 of 2
Country: Canada M&A 3 of 29
Year: 2009 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-26 Orbit Garant

Val-d'Or, Quebec, Canada

Orbit Garant is a drilling company providing both underground and surface drilling services in Canada and internationally through its 116 drills. It provides services to major, intermediate, and junior mining companies, through each stage of mining exploration, development, and production. Orbit Garant was incorporated in 1965 and is based in Val-d'Or, Canada.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-02-15 L&C Trucking

Estevan, Saskatchewan, Canada

L&C Trucking is an oilfield logistics business providing pipe custodian services and 24-hour oilfield hauling for pipe, tanks, drill collars, mats, and drilling fluid. L&C Trucking was founded in 1956 and is based in Estevan, Saskatchewan.

Buy -
Buyer

Westerkirk Capital

Victoria, British Columbia, Canada

Category Asset Manager
Size Small
Type Sector Agnostic
DESCRIPTION

Westerkirk Capital is an investment firm focused on partnering with business owners and managers to pursue growth opportunities. The Firm manages private capital for a single Canadian investor and generally takes a long-term approach when investing. Westerkirk is a generalist investor, with interest in transportation, apparel, media, manufacturing, business services, aerospace, consumer products, and real estate. Westerkirk Capital is based in Victoria, British Columbia.


DEAL STATS #
Overall 2 of 6
Sector: Apparel/Textiles M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 2 of 5
State: Manitoba M&A 1 of 1
Country: Canada M&A 2 of 6
Year: 2009 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-24 Sleep Country

Brampton, Ontario, Canada

Sleep Country is the largest mattress retailer in Canada under both the Sleep Country Canada and Dormez-vous banners. In addition, Sleep Country is the largest mattress retailer in Arizona under the Sleep America banner. Sleep Country Canada was incorporated in 1994 and is based in Brampton, Ontario.

Buy $356M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-06-05 Shred-it International

Oakville, Ontario, Canada

Shred-it International, Inc. is a global secure information destruction services provider. Shred-it was formed in 1988 and is based in Oakville, Ontario.

Buy -