Lion Equity Partners has formed NorthPoint Technical Services to acquire the Canadian motor repair business of Siemens AG.
NorthPoint Technical Services provides new motor sales, engineering services and repair services for motors, generators, gearboxes, turbines, fans, pumps and other industrial equipment used in the oil & gas, power generation, mining, pulp & paper, infrastructure, marine and transportation industries.
The company has eight full-service electro-mechanical repair facilities located across Canada. With the closing of the transaction, NorthPoint is now a ‘Siemens Approved Partner’ and will handle warranty repair and new unit sales at each of its locations. NorthPoint is headquartered in Calgary, AB (www.NorthPointTS.com).
“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.”
“We look forward to working with NorthPoint’s management team to execute the company’s long-term growth strategy,” said Tom Carney, Operating Partner of Lion Equity. “NorthPoint has great people, an expansive footprint and the technical know-how to be extremely successful going forward.”
Lion Equity Partners makes control equity investments in US or Canadian-based small- to middle-market businesses and the firm specializes in acquiring divisions of larger corporations. Typical acquisitions will have revenues from $20 million to $150 million and valuations from $5 million to $50 million. Lion Equity is industry agnostic but has specific experience in business services, software and technology, telecommunications, distribution, print and publishing, healthcare, manufacturing and transportation. The firm is based in Denver, CO (www.lionequity.com).
© 2018 Private Equity Professional | April 6, 2018