The Walter Group of Companies has launched Walter Capital Partners, a new private equity firm based in Montreal.
The family-run Walter Group was established in 1952 by Walter Somers. The first company in the group was Walter Surface Technologies which today provides the metal working industry with abrasives, power tools, tooling, and chemical tools. The company is located in the Montreal suburb of Pointe Claire and has operations in the United States, Mexico, Brazil, Austria and Switzerland (www.walter.com). The Group also includes Montreal-based investment firm Walter Financial and, now, Walter Capital Partners (www.walterfinancial.ca).
The managing partners of Walter Capital Partners (WCP) are Pierre Fitzgibbon, and Éric Phaneuf. The firm has offices in Montreal and Boston. Click HERE for the Walter Capital Partners website.
The Walter Group is allocating an initial $100 million of capital to fund WCP and additional capital, as needed, will be contributed by other sources, including the managing partners of WCP. The new firm will invest in US and Canadian-based small and medium-sized businesses that have EBITDA between $5 million and $15 million and that are active in traditional industries.
“Both Éric and I have a solid background in managing businesses, so we have much more insight into the realities facing entrepreneurs,” said Mr. Fitzgibbon. “Our track record is in creating value and executing strategic initiatives in various sectors. Together with the Walter Group’s contribution, this represents a great advantage for our portfolio companies.”
“The Walter Group has enjoyed over six decades of success, fuelled notably by the performance of Walter Surface Technologies. This has enabled us to invest in other businesses over the years and be a true partner in their development,” said Pierre Somers, Chairman and Chief Executive Officer of the Walter Group. “In setting up Walter Capital Partners, we saw an opportunity to expand on these achievements and leverage these strengths. Walter Capital will be guided by the same entrepreneurial mindset that permeates the entire Walter Group.
© 2015 PEPD • Private Equity’s Leading News Magazine • 12-8-15