Lion Equity Partners, through Lion Equity Holdings II, LLC, has acquired the Canadian motor repair business of Siemens Canada Limited, formerly known as Siemens Industrial Sales and Service Centre. Business was also previously known as Westinghouse, Prairie West, TurboCare.
The transaction closed on March 29, 2018. Financial terms were not disclosed.
Lion Equity Partners has renamed the business as NorthPoint Technical Services ULC. NorthPoint continues to be a Siemens Approved Partner for motor and gearbox repair and distribution out of its eight facilities across Canada.
Calgary based NorthPoint is an industry leader in the repair of rotating industrial equipment, including motors, generators, gearboxes, switchgear, transformers, pumps, fans and turbines. NorthPoint serves customers in oil & gas, power generation, mining, pulp & paper, infrastructure, marine and transportation industries by solving their most complex equipment repair needs.
NorthPoint has eight full-service electro-mechanical repair facilities located across Canada, including locations in Calgary; Regina; Winnipeg; Sarnia, Ontario; Sudbury, Ontario; Kirkland Lake Ontario; Moncton; and St. John’s.
“NorthPoint is a leader in the repair industry with a strong legacy of quality, customer service and technical capability,” said Ari Silverman, Partner of Lion Equity. “We believe the company’s national footprint is a key differentiator and provides a strong foundation for future growth, both organically and through prospective strategic add-on acquisitions.”
Tom Carney, Operating Partner of Lion Equity, added, “We look forward to working with NorthPoint’s management team to execute the company’s long-term growth strategy. NorthPoint has great people, an expansive footprint and the technical knowhow to be extremely successful going forward.”
Denver, Colorado based Lion Equity Partners is a private investment firm focused on acquiring controlling interests in middle-market businesses across multiple industries. Lion Equity specializes in acquiring divisions of larger corporations, and has significant experience in the divestiture process. Its typical transaction value ranges up to US $50 million with the ability to consummate larger transactions. Target’s revenues range between US $20 and $150 million
photo credit: NorthPoint
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