Metal 7 Inc. a portfolio company of Fonds de solidarité FTQ, Fondaction CSN and BDC Capital Growth and Transition Capital, has acquired Québec City based Enduride. Financial terms were not disclosed.
Enduride, comprised of Enduride Canada-USA Inc. and Technologies Enduride Inc., is a specialized manufacturer of a wide range of rollers and idlers for power-driven or gravity conveyors.
“Enduride is a dynamic young company that designs and manufactures a specialized range of conveyor rollers and idlers for the primary industry. Enduride’s patented technologies coupled with our expertise in surface engineering allow us to add product lines that fit perfectly into our mission to deliver high performance solutions and to increase our customers’ productivity,” said Marc-André Gervais, President & CEO of Metal 7.
“This transaction will allow Enduride to access a well-established local and international sales network. Metal 7 equips more than 50% of the iron ore pellet plants around the world, excluding China. This will give us access to a very large market. In addition, Metal 7 is recognized for its innovative capabilities for both, its products and its processes. The combination of our respective expertise will allow us to accelerate the development and commercialization of new solutions and to increase our own productivity,” added Simon Douville, General Manager and Jérôme Guimont, V-P Sales of Enduride Inc.
“Enduride is the first acquisition of a comprehensive expansion and consolidation plan to create a flagship high value-added products and services business dedicated to the primary industry, an internationally recognized company,” said Bruno Fortin, Chairman of Metal 7.
Fonds de solidarité, Fondaction, BDC Capital led consortium acquired Metal 7 in April 2014. Other investors include Fonds régional de solidarité FTQ Côte-Nord, NCP Investment Management Inc. and the senior management of Metal 7.
photo credit: Enduride