ONCAP’s Walter Surface Technologies acquires Aerochem

Walter Surface Technologies, a portfolio company of ONCAP and a leader in surface treatment technologies, has acquired Aerochem from founders MIchel Caron, Vincent Houde and Yvon Carrier.

Aerochem will continue to operate under its own brand. The transaction is effective immediately, and activities for both customers and suppliers remain unchanged.

Blainville, Quebec based Aerochem is a provider of industrial MRO solutions.

Montreal based Walter Surface Technologies provides innovative solutions for the global metal working industry.

In August 2018, ONCAP, the middle-market private equity platform of Onex Corporation (TSX: ONEX), acquired a majority stake in Walter Surface Technologies with The Walter Group retaining a minority interest.

Walter Surface Technologies will continue to seek accretive acquisitions. Aerochem is Walter Surface Technologies’ second acquisition under ONCAP. Last month, Walter Surface Technologies acquired ArcOne, a provider of industrial safety products based in Taunton, Massachusetts.

photo credit: Aerochem

News Release

WALTER SURFACE TECHNOLOGIES ACQUIRES AEROCHEM AND EXPANDS ITS PRESENCE IN THE INDUSTRIAL CLEANERS, LUBRICANTS AND GREASES MARKET
Strong complementarity of both companies’ product offerings

Walter to continue seeking accretive acquisitions

Montreal, Québec, March 3rd, 2020 – Walter Surface Technologies, a leader in surface treatment technologies is pleased to announce its acquisition of Aerochem, a Quebec-based provider of industrial MRO solutions.

Through this acquisition, Walter is expanding its offering of chemical solutions to provide an even wider variety of chemical solutions to help its users optimize their industrial operations.

“We are very excited to welcome Aerochem to the Walter family. Their team brings a solid network and expertise that will allow us to continue our mission to help our customers work better,” said Marc-André Aubé, CEO of Walter. “We simply love their products. We see this opportunity as a breeding ground for further R&D innovations in our chemical product offering,” he added.

Michel Caron, President of Aerochem, is equally excited to work with the Walter team: “We saw in this opportunity the perfect alignment of both products and values. Aerochem brings to Walter its industry expertise and experience manufacturing, as well as a wide variety of products to complement Walter’s chemical offering.”

Following this transaction, Aerochem will continue to operate under its own brand. The transaction is effective immediately, and activities for both customers and suppliers remain unchanged.

About Walter Surface Technologies
Walter Surface Technologies provides innovative solutions for the global metal working industry. From high performance abrasives, power tools and tooling to industrial parts washing systems, cleaners, degreasers and lubricants Walter focuses on helping its customers work better. Founded in 1952, the Company is established in 7 countries throughout North America, South America and Europe. International headquarters is in Montreal and U.S. headquarters is located in Windsor, Connecticut. Key certification and awards include, Wall Street Journal Award; Deutscher Material Preiz; American Eagle Award; CleanTech Cleaning Technology Award. For more information, please visit www.walter.com.

About Aerochem
Aerochem is a Quebec-based company with more than 25 years of experience designing, producing, and distributing a wide variety of lubricants, greases, specialized electrical cleaners/degreasers, anti-corrosion products, as well as other industrial-use fluids/oils created for the food industry and the industrial sector alike! Through our attentive service and consultative approach, we provide ideal alternative solutions for our customers’ specific needs and applications in order to help them optimize their maintenance and industrial cleaning operations.

For more information, or to request an interview, please contact:
Stéphanie Boucher, Brand Manager
Walter Surface Technologies
SBoucher@walter.com
(514) 630-2800 ext: 2862