TriWest Capital leads majority acquisition of Monarch Industries

• Monarch’s products are marketed globally to the agriculture, construction and industrial sectors through original equipment manufacturers and hydraulic distributors
• The deal will support Monarch’s expansion of new and existing customer relationships across the company’s end markets
• It follows TriWest’s investment in the launch of Outdoor Adventure Group

TriWest Capital Partners has acquired a majority stake in Monarch Industries, a manufacturer of hydraulic cylinders and custom iron castings. The firm did the deal in partnership with BDC Capital’s Growth Equity Partners, BMO Capital Partners and Export Development Canada.

No financial terms were disclosed.

Founded in 1935 and headquartered in Winnipeg, Monarch makes products that are marketed globally to the agriculture, construction and industrial sectors through original equipment manufacturers and hydraulic distributors.

“Monarch is a leading Western Canadian business with a dedicated and driven management team committed to manufacturing high-quality, mission-critical products for OEMs,” said Jon Spencer, managing director at TriWest “We believe there are significant growth opportunities available to Monarch through the expansion of new and existing customer relationships across the Company’s end markets.”

TriWest, a Calgary-based private equity firm, was founded in 1998 and to date has raised more than C$1.4 billion of committed capital. It invests in mid-market companies with operating earnings/EBITDA in the range of $10 million to $100 million or higher in certain circumstances.

Earlier this month, TriWest announced its acquisition Northern Lite Truck Campers and Off Grid Trailers to form Outdoor Adventure Group, a Canadian recreational vehicle manufacturer and distributor.