- MiddleGround Capital, a US private equity firm, acquired Megatech in January
- Based in Westmount, Quebec, Alfar Capital is a private equity firm
- The exit from Megatech is the first since the fund’s creation
Alfar Capital has sold its stake in Megatech, a Quebec City-based business specializing in machining complex, high-precision parts. No financial terms were disclosed.
The exit follows the acquisition of Megatech by US private equity firm MiddleGround Capital, announced in January.
Based in Westmount, Quebec, Alfar is a private equity firm. The exit from Megatech is the first since the fund’s creation.
“We’re so proud of what we’ve achieved with Megatech and of how we were able to recognize everything the employees did to increase the company’s value,” said Fares Kabbani, founder and managing partner at Alfar Capital, in a statement.
Based in Lexington, Kentucky, MiddleGround manages more than $3.3 billion of assets. It makes control equity investments in mid-market B2B industrial and specialty distribution businesses.
The financial advisor to Megatech in its sale to MiddleGround was Stifel, while Fasken acted as legal counsel for Alfar Capital.