GenNx360 Capital Partners has acquired Trimaster Manufacturing Inc. from Edgestone Capital Partners for an undisclosed amount. Trimaster is an Ontario-based maker of components and sub-assemblies for complex machines.
GenNx360 Capital Partners, a private equity firm focused on industrial business-to-business companies with $100 million to $1 billion in revenues, announced today that it has acquired Trimaster Manufacturing, Inc., a manufacturer of precision components and complex sub-assemblies used in sophisticated machines. Trimaster was previously owned by Edgestone Capital Partners, a Toronto-based private equity firm, which acquired the company in 2004. Financial terms of the transaction were not disclosed.
Trimaster, with 300 employees, is based in Guelph, Ontario and has two additional facilities in nearby southern Ontario. For the fiscal year ended March 31, 2009, the company reported revenues of C$55.9 million, the majority of which were derived from U.S.-based Fortune 500 companies.
“The company has considerable organic growth potential as it expands into and beyond its core base of gas turbines, automated teller machines and industrial document insertion machines and becomes a more global business,” said Lloyd Trotter, a GenNx360 founding partner. “We are looking forward to working with the current experienced management team to achieve the goals and objectives for the business that we have established.”
About GenNx360 Capital Partners
New York-based GenNx360 Capital Partners is committed to delivering superior returns to investors in all its portfolio companies. The firm acquires companies with proven and sustainable business models in expanding industries and implements the required operating changes to deliver cost efficiencies and accelerated growth opportunities. The firm’s proven business methodology is based on more than 100 years of partner experience successfully running global businesses. For more information please visit, www.gennx360.com.
About Trimaster Manufacturing Inc.
Trimaster Manufacturing Inc. (the “Company” or “Trimaster”) is a manufacturer of precision machined components and complex subassemblies used in sophisticated machines including natural gas turbines, automated teller machines, industrial document insertion machines and digital cinema projectors. The Company’s manufacturing capabilities apply across a diverse range of general industrial end markets, including power generation, document insertion, ATMs, military/defense and petrochemicals reducing its exposure to any individual industry cycle. Major customers include several Fortune 500 companies.
For more information about Trimaster, please visit: www.trimastermfg.com.