TorQuest Partners has completed the sale of their majority interest in Array Marketing to The Carlyle Group. TorQuest and its co-investors acquired Array in June 2012.
Array is a provider of visual merchandising products and services to high-end cosmetic brands. The company provides design conceptualization and development, engineering, procurement, and production of retail displays and store fixtures. Array Marketing is based in Toronto (www.arraymarketing.com).
Array has been an outstanding investment for TorQuest and our partners, and we are grateful to Array’s management team for its dedication to the company and excellent work over our hold period,” said Michael Hollend, a Partner at TorQuest. “Array’s success over the past three and a half years is the result of the company’s commitment to market leadership and product design, and the hard work of its many talented employees.”
TorQuest makes equity investments of C$15 million to C$100 million in companies with enterprise values of C$40 million to C$250 million that are located in Canada and the US. The firm invests in a range of industries but has particular interests in manufacturing, business services, financial services, food, consumer products and specialty chemicals. TorQuest was founded in 2002 and has over C$1 billion of equity capital under management. The firm is headquartered in Toronto (www.torquest.com).
“TorQuest has been an ideal partner for us,” said Tom Hendren, CEO of Array. “Their commitment to investing in our business and our people has provided Array with a solid platform for continued growth and success.”
© 2015 PEPD • Private Equity’s Leading News Magazine • 12-11-15