AMETEK, a maker of electronic instruments and electro-mechanical devices, has completed its buy of Creaform for approximately $120 million. The sellers were Novacap and Desjardins Venture Capital. GMP Securities advised Novacap and Desjardins Venture Capital in the transaction. Headquartered in Quebec, Creaform is a maker of portable 3D measurement technologies.
MONTREAL, QUEBEC–(Marketwired – Oct. 30, 2013) – NOVACAP Technologies III L.P. (“Novacap”) is pleased to announce that Novacap and Desjardins Venture Capital Inc. (collectively the “Private Equity Shareholders”) have completed the sale of Creaform Inc., to AMETEK, Inc. a leading global manufacturer of electronic instruments and electro-mechanical devices for approximately $120 million US.
Novacap and Desjardins Venture Capital made their original investment in Creaform in 2009. Based in Levis, near Quebec City, Creaform grew substantially through organic growth and tuck-in acquisitions to become a leading developer, manufacturer and distributor of innovative portable 3D measurement technologies, and provider of 3D engineering services.
Creaform operates innovation centers in Levis, and Grenoble, France, and has direct sales operations in the United States, France, Germany, China, Japan and India. It joins AMETEK as part of its Electronic Instruments Group (EIG) — a recognized leader in advanced monitoring, testing, calibrating, and display instruments.
“This transaction marks an important milestone in Creaform’s growth. We are excited to join the AMETEK team. I would like to thank Novacap and Desjardins for their partnership and support as they helped us grow our business to become the world-class company it is today,” declared Martin Lamontagne, Creaform’s co-founder, President and CEO.
“Martin and the entire Creaform team have built a strong and competitive business. Our experience with Creaform demonstrates how Novacap can partner with a company and provide support to help a company grow into a global leader. We are very proud of what was accomplished with the team and are looking forward to hearing more about their successes,” added Pascal Tremblay, President and managing partner of NOVACAP Technologies.
GMP Securities L.P. acted as exclusive financial advisor of the sellers and McMillan LLP acted as legal counsel to the sellers.
Novacap is one of Canada’s leading private equity firms. Since 1981, its distinct partnership approach based on operational expertise has helped companies accelerate their growth and maximize their value. Novacap ranks among the top private equity firms in North America. For more information, please consult: www.novacap.ca.
Creaform develops, manufactures and sells 3D portable measurement technologies and specializes in 3D engineering services. The company offers innovative solutions such as 3D scanning, reverse engineering, quality control, non-destructive testing, product development and numerical simulation (FEA/CFD). Its products and services are intended for industries such as the automotive, aerospace, consumer products, heavy industries, health care, manufacturing, oil & gas, power generation and research & education.
Creaform has developed and sells the Handyscan 3D portable, self-positioning 3D scanners, the HandyPROBE optical portable CMM, the MetraSCAN 3D optical CMM scanners and MetraSCAN-R robot-mounted version, and the Go!SCAN 3D white light scanner. The company also offers an intuitive photogrammetry device: the MaxSHOT 3D optical coordinate measuring system.
The company employs more than 325 people worldwide, and has offices in Lévis, Montréal, the United States, France, Germany, China, India and Japan. The company’s head office and Quebec-based offices are 9001 : 2008 ISO certified.
AMETEK is a leading global manufacturer of electronic instruments and electro-mechanical devices with annualized sales of $3.6 billion. AMETEK’s Corporate Growth Plan is based on Four Key Strategies: Operational Excellence, Strategic Acquisitions & Alliances, Global & Market Expansion, and New Products. AMETEK’s objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. The common stock of AMETEK is a component of the S&P 500 Index.