TORONTO--(BUSINESS WIRE)--Speyside Equity is pleased to announce that it has acquired Opta Minerals Inc (TSX: OPM). The acquisition was approved by the selling shareholders on March 31, 2016 and closed in April.
Opta Minerals is a vertically integrated provider of custom process solutions and industrial mineral products used primarily in the steel, foundry, loose abrasive cleaning, water-jet cutting and municipal water filtration industries. Opta Minerals has production and distribution facilities throughout Canada and the U.S., as well as locations in France, Slovakia and Germany.
Speyside founding partner, Kevin Daugherty: “We are excited to announce the acquisition of Opta Minerals. It is a good business with excellent upside and a great way to start putting money to work for our new $130 million fund that we closed in January.”
Speyside operating partner, Eric Wiklendt: “We think that we have the right operational mindset and managerial discipline to complete the turnaround of Opta Minerals.”
About Speyside Equity
Speyside Equity invests in middle-market industrial businesses with a history of profitability and strong market positions. It has a focus on the industrial, chemical and food sectors with an affinity for cross-border deals, and spin-offs of large multinationals. Target investments are typically headquartered in developed markets in the United States and Europe, and valued at US$20-200 million.
