M&A Deal Summary

TerraVest Acquires Advance Engineered Products

On April 2, 2024, TerraVest acquired automotive company Advance Engineered Products from Ironbridge Equity Partners

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

M&A Deal Summary
Date 2024-04-02
Target Advance Engineered Products
Sector Automotive
Buyer(s) TerraVest
Sellers(s) Ironbridge Equity Partners
Deal Type Add-on Acquisition

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

TerraVest

Toronto, Ontario, Canada
Category Company
Sector Diversified
Revenue 678M USD (2023)
DESCRIPTION

TerraVest is a diversified industrial company that sells goods and services to a variety of end markets. The company is a manufacturer of home heating products, propane, anhydrous ammonia (“NH3”), and natural gas liquids (“NGL”) transport vehicles and storage vessels, energy processing equipment, and fiberglass storage tanks. TerraVest is based in Toronto, Ontario.

DEAL STATS #
Overall 1 of 1
Sector (Automotive) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Saskatchewan) 1 of 1
Country (Canada) 1 of 1
Year (2024) 1 of 1

Seller(S) 1

SELLER

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 11 of 12
Sector (Automotive) 2 of 2
Type (Add-on Acquisition) 4 of 4
State (Saskatchewan) 2 of 2
Country (Canada) 11 of 12
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-18 Walker Glass

Montreal, Quebec, Canada

Walker Glass is a glass product company offers designs of etched and mirrored glass for commercial interior and exterior applications. Walker Glass is based in Montreal, Quebec.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-24 Alumni Educational Solutions

Waterloo, Ontario, Canada

Alumni manufactures and distributes educational furniture for the preschool through grade twelve market. The company’s portfolio of education furniture solutions is focused on creating collaborative furniture with classrooms. It operates from three facilities in Canada, the United States, and China to serve customers across North America. Alumni Educational Solutions was founded in 2004 and is headquartered in Waterloo, Ontario.

Sell -
Mergr

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