CPE News (10.1.2022) – TriWest Capital Partners, with support of BDC Capital Growth Equity, BMO Capital Partners and Export Development Canada (EDC), has acquired a majority interest in Monarch Industries Limited.
Founded in 1935 by John Klassen, Winnipeg, Manitoba based Monarch Industries is a leading manufacturer of hydraulic cylinders and custom iron castings.
In July 2012, Merit Capital Partners invested in Monarch Industries in partnership with senior management of the company.
photo credit: Monarch Industries
News Release
TRIWEST CAPITAL PARTNERS ANNOUNCES ACQUISITION OF MONARCH INDUSTRIES
Calgary, Alberta (September 30, 2022) — TriWest Capital Partners (“TriWest”), in partnership with BDC Capital’s Growth Equity Partners, BMO Capital Partners and Export Development Canada, is pleased to announce that it has acquired a majority interest in Monarch Industries (“Monarch”), a leading manufacturer of hydraulic cylinders and custom iron castings.
Founded in 1935 and headquartered in Winnipeg, Manitoba, Monarch Industries has established itself as a leader in the OEM market. The Monarch name is synonymous with premium quality, highly engineered products, top notch delivery performance, technical support, and cost competitiveness. As a privately owned, vertically integrated manufacturer of hydraulic cylinders and custom iron castings, Monarch is ideally suited as a “one-stop-shop” for OEM’s. Monarch’s products are marketed globally to the agriculture, construction and industrial markets through Original Equipment Manufacturers and Hydraulic Distributors.
For more information on Monarch Industries please visit: www.monarchindustries.com.
“We are excited to partner with Monarch’s management team and alongside BDC Capital’s Growth Equity Partners, BMO Capital Partners and Export Development Canada”, said Jon Spencer, Managing Director at TriWest. “Monarch is a leading Western Canadian business with a dedicated and driven management team committed to manufacturing high-quality, mission-critical products for OEMs. We believe there are significant growth opportunities available to Monarch through the expansion of new and existing customer relationships across the Company’s end markets.”
Mitch Tetrault, CEO at Monarch said, “The passion throughout our organization for delivering the industry’s best service and exceptional products to market-leading original equipment manufacturers has produced unprecedented success in recent years. We are thrilled to be partnering with TriWest today. Their expertise and our mutual values and commitment enables Monarch to continue to grow our business into the future.”
Constantine Hatzipanayis, Partner, Growth Equity Partners at BDC Capital said, “We’re thrilled to have the opportunity to support a Canadian industry leader through its next stage of growth across North American markets alongside such an experienced group of shareholder partners.’’
About TriWest Capital Partners
Founded in 1998 and based in Calgary, Alberta, TriWest is one of Canada’s leading private equity firms, having raised over C$1.4 billion in committed capital through six funds. TriWest has successfully invested in 47 companies across a broad cross-section of the economy in partnership with their management teams. We work closely with our management partners, together proactively putting in place a strategy that maximizes growth potential and value creation by emphasizing operational excellence, prudent governance and an efficient capital structure. The principals of TriWest have significant operational and financial expertise, making us effective partners in creating shareholder value. For more information please visit: www.triwest.ca
About BDC Capital
BDC Capital is the investment arm of BDC, the bank for Canadian entrepreneurs. With over $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. Visit //bdc.ca/capital
About BMO Capital Partners
Established in 1998, BMO Capital Partners is a Canadian-based investor with C$1.5 billion under management. Its evergreen investment program is built upon minority/non-control equity co-investments and subordinated debt as well as venture, growth and private equity funds. The fund invests across a broad range of industries to support companies in all stages of growth, with acquisitions, buyouts, expansions, restructurings and growth capital. Through its investment teams located in Toronto, Montreal, Vancouver and Calgary, BMO Capital Partners has invested more than C$1 billion over the last five years. As part of BMO Financial Group, a highly diversified financial services provider – the 8th largest bank by assets in North America, BMO Capital Partners provides a single point of access to an integrated suite of commercial banking, capital markets, and wealth management solutions. For more information please visit www.linkedin.com/company/bmo-capital-partners
About EDC
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian companies of all sizes succeed on the world stage. As international risk experts, EDC equips Canadian companies with the tools they need – the trade knowledge, financing solutions, equity, insurance, and connections – to grow their business with confidence. Underlying all EDC’s support is a commitment to sustainable and responsible business. For more information and to learn how EDC can help your company, call EDC at 1-800-229-0575 or visit www.edc.ca. Media contact: 1-888-222-4065 or media@edc.ca