French calibration specialist Trescal has acquired Primo Instrument, a supplier of test and measurement equipment based in Montréal. No financial terms were disclosed. The transaction was completed with the support of Trescal’s majority investor, Ardian, a European private equity firm. Trescal, which operates in 16 countries, said the deal expands its footprint to Canada, where the company has a large number of aeronautics and space customers. Primo’s founders will continue to lead the post-acquisition company. Ardian bought Trescal from 3i Group and TCR Capital in July 2013.
Trescal expands its footprint to Canada
Trescal, today announces the acquisition of Primo Instrument. This acquisition will bring €7m in additional turnover to the Trescal group.
Based in Montreal, Primo Instrument is a leading supplier of test and measurement equipment. A one-stop shop laboratory, the company offers the complete spectrum of calibration services and is A2LA accredited across its multiple practice areas. Primo employs 35 people and is mostly active in the aerospace and automotive sectors. Following the acquisition, Primo’s three founders – Pierre Tétrault, Michele Sardella and Tony Antonitti – will stay in their current positions to continue to lead the growth of the business.
Guillaume Caroit, Trescal Deputy CEO, said: “We are thrilled to have Primo Instrument joining Trescal. Canada has always been a target for our geographical expansion as a large number of the group’s aeronautics and space customers are already located in this country.”
Pierre Tétrault, the founder of Primo Instrument, added: “We were looking to be backed by a strong partner to continue our success story. Trescal brings us the expertise and the network we need to accelerate our growth. We are very proud to join what is the worldwide leader in calibration services.”
Thibault Basquin, Managing Director of Ardian Mid Cap Buyout, added: “Trescal begins 2016 just as it finished 2015: pursuing its ambitious growth strategy. Primo Instrument’s presence in Canada brings a new attractive country to the group and reinforces its presence in North America.”
This deal was completed with the support of Trescal’s majority shareholder, Ardian, the independent private investment company. This is Trescal’s 14th build-up following Ardian’s takeover in July 2013.
January 7, 2016
Photo courtesy of Primo Instrument Inc