Alfar Capital and Walter Capital Partners have acquired Groupe Access, a Montreal-based information technology and cybersecurity service provider. No financial terms were disclosed for the deal, which will back the company’s growth plan, including mergers and acquisitions in a fragmented industry. Desjardins provided financing for the transaction.
MONTRÉAL, May 12, 2022 /CNW Telbec/ – Alfar Capital and Walter Capital Partners (“Walter Capital”) have acquired Groupe Access, a leading independent Canadian-managed IT and cybersecurity service provider, in partnership with its management team. This marks the first co-investment between Alfar Capital and Walter Capital, which together now hold a majority stake following the transaction.
“We’re very excited about this joint investment with Walter Capital, with whom we share similar values and a common investment vision,” said Fares Kabbani, Managing Partner at Alfar Capital. “We’ll work hand in hand to leverage our complementary expertise for the benefit of Groupe Access and provide strategic support to their strong management team as they roll out an ambitious growth plan.”
Backed by its investments in research and development, Groupe Access stands out by offering proven cutting-edge technological solutions alongside unparalleled customer service. As such, the company is well positioned to meet the escalating demand for IT services and increasingly sophisticated needs of today’s businesses. A large proportion of Canada’s 1.3 million small to medium-sized companies face a major shift to remote and hybrid workstyles and also lack the capacity to adequately protect their infrastructures from cyberattacks. Due to scarce talent in this sector, many are mitigating their risk by seeking the services of external IT firms to manage evolving needs.
“Together with Alfar Capital, we’re eager to work with Groupe Access’ seasoned management team to help the company become Canada’s top IT provider,” said Éric Phaneuf, President and CEO at Walter Capital. “To make it happen, we intend to take advantage of the market trends creating a favourable climate for partnerships as well as mergers and acquisitions within a highly fragmented industry. At the same time, we’ll drive organic growth in a company that has already built a solid foundation.”
In addition to rising demand, the current fragmentation in Canada’s IT industry will help enable Groupe Access to seek the right avenues for growth and, in so doing, to increase and diversify its service offerings and clients across the country.
Desjardins provided financing for the transaction, while Fasken acted as legal counsel for the purchasers and RBC Mid-Market Mergers & Acquisitions as financial advisors for the sellers.
About Groupe Access
Founded in 1993 and headquartered in Montréal, Groupe Access is an infrastructure Managed Service Provider (MSP) with a strong focus on cybersecurity. The company’s solutions include cybersecurity audits, remediation and post-remediation support services coupled with hardware procurement, software implementation, maintenance and support services. Groupe Access provides its partners turnkey IT solutions tailored to medium and large SMBs (50 to 500 employees). It employs over 120 individuals, including 80 technicians servicing more than 300 corporate clients from its offices in Quebec and Ontario. www.groupeaccess.ca
About Alfar Capital
Alfar Capital is a private equity fund for entrepreneurs that uses a diverse playbook to achieve superior returns. The company’s team of proven entrepreneurs with a long-standing track record of successful partnerships understands the challenges that business owners face and can help them strive to greater heights. www.alfarcap.com
About Walter Capital Partners
Walter Capital Partners is a private equity firm part of the Walter Group. Its investment model combines capital inflow and operating expertise to support the growth of promising companies on solid and sustainable foundations, by drawing on the entrepreneurial background of the Walter Group and the extensive business leadership experience of its managing partners. Headquartered in Montréal, Walter Capital provides a solid international network. www.waltercapital.ca