Canadian mid-market private equity firm TriWest Capital Partners has in partnership with company management acquired a majority stake in Kayden Industries Ltd, a Calgary-based designer, manufacturer and supplier of large capacity centrifuges and supplemental equipment, primarily for the oil and gas industry. The financial terms of the deal were not disclosed. TriWest’s acquisition of Kayden is the firm’s fifth new platform investment since Nov. 2013, and the sixth investment made to date by TriWest Capital Partners Fund IV, which was closed at $350 million in 2012. Last month, the Calgary-based TriWest also backed movie exhibition chain Landmark Cinemas, and financed its buy of theatre assets from Empire Theatres.
TriWest Capital Partners Announces Investment in Kayden Industries
February 7, 2014 – TriWest Capital Partners (“TriWest”), in partnership with senior management, is pleased to announce that it has acquired a majority interest in Kayden Industries Ltd. (“Kayden”). This investment represents TriWest’s sixth portfolio company in Fund IV.
Established in 1994, Kayden is a designer, manufacturer and supplier of large capacity centrifuges and supplemental equipment, primarily for the oil & gas industry. Kayden’s units are purpose built and are highly efficient at separating the drill cuttings from drilling fluid, thereby increasing drilling performance and extending the useful life of drilling fluid systems. This provides a compelling value proposition to Kayden’s customers, who are able to drill faster and reduce their drilling fluid costs while mitigating the environmental impact of solids disposal. In addition to the rental of centrifuge units and supplemental equipment, Kayden provides ongoing technical support services to its customers, either through full-time on-site support by Kayden’s specialized technicians or through 24/7 access to Kayden’s off-site service representatives. Kayden also operates an in-house solids laboratory that provides particle size analysis and performance reports for its customers. Kayden manufactures and maintains its centrifuge units from its facility in Calgary, and services its customers from field locations in Alberta, British Columbia, New York and Australia, and sales offices in Texas, Colorado and Pennsylvania.
“We look forward to this new partnership opportunity with the Management of Kayden”, said TriWest Senior Managing Director, Mick MacBean. “TriWest is excited to work with this dynamic team and their innovative approach to solids control. This focus on new products and technologies will be critical in assisting North American E&P companies to accomplish efficiency and environmental leadership”.
Kayden President, Anthony Foscolos, commented “Kayden is excited to be partnered with TriWest. We are confident this new partnership will greatly benefit our customers, staff and accelerate the continued growth of our organization”.
Founded in 1998, TriWest is one of Canada’s leading private equity firms, having raised over $775 million of committed capital. We are entrepreneurial, independent and based in Western Canada.
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