Canadian private equity firm Ironbridge Equity Partners has invested in A V Gauge & Fixture Inc, an Oldcastle, Ontario maker of specialized gauging and check fixture equipment for the automotive industry. No financial terms were disclosed. Founded in 1985, AV Gauge supplies most major OEMs and Tier-I’s and operates in eight facilities across Canada, United States and Mexico. The partnership with Ironbridge will help the company grow and diversify, CEO Denis Levasseur said. Ironbridge invested in AV Gauge through Ironbridge Equity Partners II and Ironbridge Equity Partners III. Fund III closed last year at its hard cap target of $238 million.
Ironbridge Equity Partners completes partnership with A V Gauge & Fixture Inc.
(Toronto – July 31, 2017) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have partnered with A V Gauge & Fixture Inc. (“AV Gauge” or the “Company”) of Oldcastle, Ontario.
A V Gauge & Fixture Inc. is a leading manufacturer of specialized gauging and check fixture equipment for the automotive industry. Founded in 1985, the Company supplies most major OEMs and Tier-I’s and operates in eight facilities across Canada, United States and Mexico. Vertically integrated, AV Gauge strives to employ the best people, utilize the latest technologies and adopt the most efficient processes to satisfy customers. The Company was named as one of Canada’s Best Managed Companies in 2017.
“We are very impressed with the Company’s breadth of in-house capabilities and operating efficiency. This has made AV Gauge a market leader.” said Peter Samson, Managing Partner at Ironbridge. “They have an outstanding reputation in the marketplace for on-time delivery of high-quality products for the most complex jobs. We believe this provides an excellent platform for future growth.”
“The Ironbridge team has a proven history of success, and will work with us to help execute our strategy to continue to grow and diversify,” said Denis Levasseur, CEO of AV Gauge. “We believe that Ironbridge’s operating expertise and business experience gives us the additional resources to further scale and grow AV Gauge by maintaining our commitment to delivering the highest-quality product to our customers.”
Ironbridge is investing in AV Gauge jointly through the firm’s two most recent funds: Ironbridge Equity Partners II, LP, a fully-committed $154 million fund; and, Ironbridge Equity Partners III, LP, a fully-committed $238 million fund.
Ironbridge’s team of eleven investment professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The
Ironbridge team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value.
CIBC acted as the exclusive financial advisor to AV Gauge in connection with the transaction.
For more information, contact:
Ironbridge Equity Partners
A V Gauge & Fixture Inc.
Photo courtesy of A V Gauge & Fixture Inc