DENVER--(BUSINESS WIRE)--Lion Equity Partners, through its affiliate Lion Equity Holdings II, LLC (“Lion Equity”) announced that on March 29th its affiliate, NorthPoint Technical Services ULC (“NorthPoint”), acquired the Canadian motor repair business of Siemens Canada Limited (“Siemens”). NorthPoint is an industry leader in the repair of rotating industrial equipment, including motors, generators, gearboxes, switchgear, transformers, pumps, fans and turbines.
NorthPoint, headquartered in Calgary, AB, serves customers in oil & gas, power generation, mining, pulp & paper, infrastructure, marine and transportation industries by solving their most complex equipment repair needs. Operating out of its eight facilities, strategically located across Canada, NorthPoint has the feel of a local business with the strength of a national partner. NorthPoint’s in-house and field engineering teams support customers in on-site diagnosis and troubleshooting around vibration balancing and alignment issues that could lead to equipment failure. NorthPoint will also be a ‘Siemens Approved Partner’ for motors and gearboxes going forward, handling warranty and other repairs and new unit sales of spares at each of its locations.
“NorthPoint is a leader in the repair industry with a strong legacy of quality, customer service and technical capability,” said Ari Silverman, Partner of Lion Equity. “We believe the company’s national footprint is a key differentiator and provides a strong foundation for future growth, both organically and through prospective strategic add-on acquisitions.”
Tom Carney, Operating Partner of Lion Equity, added, “We look forward to working with NorthPoint’s management team to execute the company’s long-term growth strategy. NorthPoint has great people, an expansive footprint and the technical knowhow to be extremely successful going forward.”
The terms of the deal were not disclosed.
About Lion Equity Partners:
Lion Equity Partners (www.lionequity.com) is a Denver, CO-based private investment firm focused on acquiring controlling interests in middle-market businesses across multiple industries. Lion Equity specializes in acquiring divisions of larger corporations, and has significant experience in the divestiture process. Lion Equity’s investment strategy is centered on creating value in its portfolio companies through a combination of organic growth and add-on acquisitions. Lion Equity supports its portfolio companies with strategic and financial resources, operational guidance, and M&A expertise.
About NorthPoint Technical Services:
NorthPoint Technical Services (www.NorthPointTS.com), headquartered in Calgary AB, provides new motor sales, engineering services and repair services for motors, generators, gearboxes, turbines, fans, pumps, switchgear, transformers and other industrial equipment used in oil & gas, power generation, mining, pulp & paper, infrastructure, marine and transportation industries. NorthPoint has eight full-service electro-mechanical repair facilities located across Canada, including locations in Calgary AB, Regina SK, Winnipeg MB, Sarnia ON, Sudbury, ON, Kirkland Lake ON, Moncton NB, and St. John’s NL.
About Siemens Canada Limited:
Siemens Canada (https://www.siemens.com/ca/en/home.html) is a leading technology partner that has stood for engineering excellence, innovation, quality and reliability for more than 100 years. Siemens’ expertise in the fields of electrification, automation and digitalization helps make real what matters to Canada, delivering solutions for sustainable energy, intelligent infrastructure, healthcare and the future of manufacturing. One of the world’s largest producers of energy-efficient, resource-saving technologies, Siemens is a foremost supplier of power generation and power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. The company is also a leading provider of medical imaging equipment and laboratory diagnostics as well as clinical IT. The company has approximately 5,000 employees, 44 offices and 15 production facilities from coast-to-coast.