VenGrowth Private Equity Partners Inc. today announced an investment in ACS Ltd. The financing was led by VenGrowth’s Mezzanine Finance Team and included investments by The VenGrowth Traditional Industries Fund Inc. and The VenGrowth III Investment Fund Inc.
Established in 1958, Toronto-based ACS employs over 150 people. The funding will be used as growth capital as the company continues to expand its research capabilities and range of exhaust and emission control solutions.
ACS designs, tests and manufactures customized exhaust/emission systems and tubular products for North American original equipment manufacturers in several areas of the industry, including recreational vehicles and light agricultural tractors as well as generator sets and other industrial equipment.
ACS also plays a leading role in the development of emission control products for small gasoline engines, a marketplace that is poised for substantial growth as stricter emission regulations are introduced in North America.
“With a strong management team, impressive test and design capability, a quality end-to-end service and product offering and brand-name clients, ACS has built a solid reputation in its marketplace,” said Gavin Muranaka, Director, VenGrowth, in a release. “VenGrowth’s Mezzanine Finance Team seeks established, profitable Canadian businesses to partner with on behalf of shareholders, and ACS fits that bill.”
VenGrowth’s Mezzanine Finance Team specializes in financing solutions for mid-market Canadian companies in traditional manufacturing and services industries that are expected to generate sustainable cash flows. Investments are made on behalf of shareholders in participating VenGrowth funds.
With over $1 billion in assets under management, VenGrowth is Canada’s largest private equity and venture capital firm managing both retail and institutional assets.
VenGrowth invests in ACS Ltd.
- By: IE Staff
- February 7, 2006 February 7, 2006
- 09:35