TORONTO – Wajax Corporation has acquired Calgary, Alberta-based NorthPoint Technical Services ULC.
All of the company’s hares were acquired from an affiliate of Denver, Colorado-based Lion Equity Partners for an aggregate purchase price of $18 million.
NorthPoint was formed in 2018 as a national electro-mechanical services provider and serves a broad range of resource and industrial customers. Specializing in the repair of rotating industrial equipment, including motors, generators, gearboxes, switchgear, transformers, pumps, fans and turbines, NorthPoint operates nine branches across Canada and employs approximately 177 people. NorthPoint’s branches are located in Grand Prairie and Calgary, Alberta; Regina, Saskatchewan; Winnipeg, Manitoba; Kirkland Lake, Sudbury and Sarnia, Ontario; Moncton, New Brunswick; and St. John’s, Newfoundland.
NorthPoint is complementary to Wajax’s existing ERS business, which includes Montréal, Québec-based Groupe Delom Inc., acquired by Wajax in October 2018. The addition of NorthPoint provides further technical expertise, a skilled workforce and minimal branch overlap with Wajax’s current ERS locations.
“We are extremely pleased to welcome NorthPoint and its team of dedicated professionals to Wajax,” said Mark Foote, president and CEO of Wajax.
“The addition of NorthPoint gives our ERS platform strengthened national coverage, complementing the expanded footprint we acquired with Groupe Delom in 2018.”
Paul Crawford, CEO of NorthPoint, said, “Partnering with Wajax provides our team with a significant opportunity to grow our volume nationally, leveraging Wajax’s extensive sales, marketing and customer relationships. Combining with Wajax offers customers a national partner for all their ERS needs and sets us apart in the marketplace.”