Industrial Services Acquisitions in Canada

JM Test Systems, a provider of test and measurement equipment and calibration services, has acquired Canada's BHD Instrumentation. The deal expands JM Test Systems' footprint into Canada, with plans to grow locations and service offerings in partnership with BHD CEO Adam Hesse. JM Test Systems has been owned by Kanbrick since 2023 as part of a long-term growth strategy that includes geographic expansion and acquisitions.

JENNMAR, a global provider of infrastructure products and services and part of FalconPoint Partners, has acquired Dumotech Industrial Products. Dumotech, based in Rouyn-Noranda, Quebec, specializes in mining products and equipment and will continue operating from its current location under JENNMAR’s ownership. The acquisition is intended to strengthen JENNMAR’s presence in Canada, particularly in Quebec, to better serve the hard rock mining market.

Hillcore Group completed the acquisition of CEDA effective June 18, 2024. CEDA had been majority-owned by OMERS since 2005, and will continue operating under its existing leadership team as part of Hillcore’s portfolio.

North American Rail Solutions, through its Canadian subsidiary Universal Rail Systems, acquired Condor Signals and Communications, a provider of rail signals and communications services and related manufactured products. Condor will operate as part of Universal Rail’s signals group and maintain its offices in Oakville, Ontario. The deal expands North American Rail Solutions’ signals and communications capabilities across Canada and into the United States.

Alta Equipment Group acquired Ault Industries, a privately held Canadian equipment distributor operating in Ontario and Quebec. The $36.0 million deal includes cash at close, a seller note, and Alta common stock, and marks Alta’s first investment in Canada for its growing construction segment.

Hexagon AB announced the acquisition of HARD-LINE, a provider of mine automation, remote-control technology, and mine production optimisation solutions. The deal strengthens Hexagon’s mining automation and safety offerings and will add HARD-LINE into Hexagon’s Mining division to complement products such as HxGN Underground Mining, HxGN Autonomous Mining, and the HxGN MineProtect platform.

Integrated Power Services (IPS) has acquired Surplec, a Canada-based provider focused on managing and remanufacturing surplus medium and high-voltage transformers. The deal adds three Surplec locations across Canada and expands IPS’s power management, transformer services, and remanufacturing capabilities for customers in Canada and the United States.

EQI Ltd. and Accucam announced a merger in which Accucam, a portfolio company of Fulcrum Capital Partners, will operate as a division of EQI. The combination expands EQI’s global supply chain, sourcing, manufacturing, and logistics capabilities for metal castings by adding Accucam’s finish machining and component part manufacturing footprint. Fulcrum Capital Partners will retain an ownership stake in the combined business.

Audax Private Equity acquired Thermogenics, Inc., a North American provider of boiler service and maintenance, equipment sales and rentals, and boiler manufacturing. Thermogenics was purchased from Ironbridge Equity Partners and certain other minority investors, with financial terms not disclosed. The deal represents the first investment from Audax’ Origins Fund I.

ATS Scientific Inc., a Canadian provider of analytical instrumentation, sample preparation, and materials processing equipment and related services, has been acquired by an investment group including Aevi Capital and Sage Capital Partners. The investment is intended to support ATS Scientific’s continued growth and expansion across the Canadian laboratory equipment market, with Aevi Capital’s Aleks Sobot assuming the CEO role.

GenNx360 Capital Partners’ portfolio company, Pacteon, acquired Quebec-based Phoenix Wrappers (Phoenix), a supplier of semi- and fully-automatic stretch wrapping equipment. The acquisition adds state-of-the-art stretch wrapping technology to Pacteon’s portfolio and expands its packaging line integration capabilities. Phoenix is headquartered in Laval, Quebec.

Deschênes Group Inc. (DGI) acquired Powrmatic of Canada Ltd., a Montreal-based distributor serving the HVACR, electrical, and hearth industries. Powrmatic was owned by Stamm International Corporation, and the transaction was advised by Capstone Partners. The deal is described as a strategic add-on for DGI, expanding complementary products and branch locations across Canada.

The Smith Cameron Group (SCG) acquired Westcan Industries and its sister company Indu-Tech effective March 1, 2019. Westcan provides industrial and municipal pump rebuild, repair, parts manufacturing, and engineering/technical services, while Indu-Tech manufactures specialty instrument isolation valves used in industrial and water & wastewater plant operations. The acquisition expands SCG’s ability to provide end-to-end equipment lifecycle services to industrial and municipal clients across Canada.